ARM (NASDAQ:ARM) Shares Up 2.3%

Arm Holdings plc (NASDAQ:ARM) shares rose 2.3% during mid-day trading on Tuesday . The company traded as high as 145.00 and last traded at 141.52. Approximately 3,839,661 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 16,396,252 shares. The stock had previously closed at 138.31.

Analyst Ratings Changes

ARM has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. KeyCorp raised their price objective on shares of ARM from $75.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Barclays boosted their price objective on ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. The Goldman Sachs Group upped their price target on shares of ARM from $65.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, New Street Research reissued a “neutral” rating and issued a $110.00 price objective on shares of ARM in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, ARM currently has a consensus rating of “Hold” and an average target price of 85.78.

ARM Stock Performance

The stock’s 50 day moving average is 114.04.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million for the quarter, compared to analyst estimates of 762.50 million. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts forecast that Arm Holdings plc will post 1.21 earnings per share for the current year.

Institutional Trading of ARM

Several large investors have recently made changes to their positions in ARM. Hsbc Holdings PLC purchased a new stake in ARM in the 3rd quarter worth approximately $219,000. Robeco Schweiz AG acquired a new stake in ARM during the third quarter valued at $35,591,000. American Century Companies Inc. purchased a new position in ARM in the third quarter valued at $54,800,000. Citigroup Inc. acquired a new position in shares of ARM in the third quarter worth about $344,000. Finally, UG Investment Advisers Ltd. acquired a new stake in shares of ARM during the 3rd quarter valued at about $3,568,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

About ARM

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.