ARM (NASDAQ:ARM) Stock Price Up 3%

Shares of Arm Holdings plc (NASDAQ:ARM) shot up 3% during mid-day trading on Tuesday . The company traded as high as 113.78 and last traded at 113.74. 2,493,235 shares changed hands during trading, a decline of 82% from the average session volume of 13,656,488 shares. The stock had previously closed at 110.46.

Analyst Ratings Changes

A number of equities analysts have recently commented on ARM shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Monday, May 6th. JPMorgan Chase & Co. lifted their target price on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Wells Fargo & Company increased their price target on shares of ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. The Goldman Sachs Group boosted their price objective on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Daiwa Capital Markets cut shares of ARM from a “buy” rating to a “neutral” rating and increased their target price for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of 93.48.

ARM Stock Performance

The firm’s 50-day simple moving average is 116.49 and its 200-day simple moving average is 94.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.30 by 0.06. ARM had a return on equity of 16.94% and a net margin of 9.46%. The business had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. During the same period last year, the company earned $0.02 EPS. ARM’s revenue for the quarter was up 46.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Arm Holdings plc will post 0.93 EPS for the current year.

Institutional Investors Weigh In On ARM

A number of large investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC bought a new position in ARM in the third quarter worth about $629,000. Bank of New York Mellon Corp purchased a new stake in ARM in the third quarter worth $300,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in ARM in the third quarter worth $56,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in ARM during the third quarter valued at $666,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of ARM during the 3rd quarter valued at $1,574,000. 7.53% of the stock is currently owned by institutional investors.

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.