ARM (NASDAQ:ARM) Shares Up 2.8% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM) shares shot up 2.8% on Tuesday . The stock traded as high as $162.44 and last traded at $160.01. 1,500,280 shares changed hands during trading, a decline of 77% from the average session volume of 6,605,650 shares. The stock had previously closed at $155.65.

Analyst Upgrades and Downgrades

ARM has been the topic of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Susquehanna raised their target price on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price objective on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group assumed coverage on shares of ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. Finally, Barclays boosted their price objective on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $152.09.

ARM Trading Up 4.7 %

The company has a market cap of $170.76 billion, a price-to-earnings ratio of 271.92, a P/E/G ratio of 7.46 and a beta of 4.56. The business has a fifty day moving average price of $142.14 and a two-hundred day moving average price of $139.58.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the previous year, the business earned $0.36 EPS. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current year.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARM. Cetera Investment Advisers increased its holdings in shares of ARM by 42.2% during the 2nd quarter. Cetera Investment Advisers now owns 38,973 shares of the company’s stock worth $6,377,000 after purchasing an additional 11,572 shares during the period. Sanctuary Advisors LLC acquired a new position in ARM in the 2nd quarter valued at approximately $737,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of ARM in the 2nd quarter worth approximately $1,776,000. Centaurus Financial Inc. acquired a new stake in shares of ARM during the 2nd quarter worth approximately $223,000. Finally, Park Avenue Securities LLC raised its stake in shares of ARM by 8.6% in the third quarter. Park Avenue Securities LLC now owns 2,780 shares of the company’s stock valued at $398,000 after purchasing an additional 221 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.