ARM (NASDAQ:ARM) Shares Up 17.4% – Time to Buy?

Arm Holdings plc (NASDAQ:ARM)’s share price was up 17.4% during mid-day trading on Wednesday . The company traded as high as $97.10 and last traded at $100.74. Approximately 4,929,969 shares changed hands during trading, a decline of 35% from the average daily volume of 7,528,259 shares. The stock had previously closed at $85.82.

Analyst Ratings Changes

Several equities analysts have commented on ARM shares. Barclays increased their price target on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Rosenblatt Securities lifted their target price on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Loop Capital upped their price target on shares of ARM from $180.00 to $195.00 and gave the company a “buy” rating in a report on Monday, February 10th. Mizuho raised their price target on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Benchmark reissued a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.76.

ARM Stock Up 3.5 %

The stock has a fifty day simple moving average of $125.98 and a 200-day simple moving average of $137.14. The company has a market capitalization of $108.96 billion, a P/E ratio of 136.83, a PEG ratio of 6.33 and a beta of 4.48.

Hedge Funds Weigh In On ARM

Institutional investors have recently added to or reduced their stakes in the company. GeoWealth Management LLC raised its stake in shares of ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after acquiring an additional 92 shares during the last quarter. Colonial Trust Co SC bought a new position in ARM in the 4th quarter valued at $40,000. Berbice Capital Management LLC acquired a new position in ARM in the fourth quarter worth $49,000. Valley National Advisers Inc. boosted its stake in ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after purchasing an additional 72 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of ARM during the fourth quarter worth $83,000. 7.53% of the stock is owned by institutional investors.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.