ARM (NASDAQ:ARM) Trading Up 4.9% on Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM)’s share price rose 4.9% during trading on Tuesday after Bank of America raised their price target on the stock from $150.00 to $180.00. Bank of America currently has a buy rating on the stock. ARM traded as high as 170.35 and last traded at 168.15. Approximately 7,852,524 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 13,249,001 shares. The stock had previously closed at 160.29.

ARM has been the subject of several other reports. BNP Paribas cut shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a report on Friday, April 19th. New Street Research restated a “neutral” rating and issued a $110.00 target price on shares of ARM in a report on Tuesday, February 27th. Susquehanna reiterated a “neutral” rating and set a $85.00 price target on shares of ARM in a report on Thursday, April 4th. The Goldman Sachs Group increased their price objective on ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of ARM in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of 99.48.

Hedge Funds Weigh In On ARM

Several large investors have recently bought and sold shares of ARM. Mark Sheptoff Financial Planning LLC bought a new stake in shares of ARM in the 1st quarter worth approximately $25,000. SOA Wealth Advisors LLC. bought a new position in ARM in the first quarter worth $35,000. Naples Money Management LLC boosted its stake in ARM by 47.8% during the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after buying an additional 110 shares in the last quarter. Crewe Advisors LLC bought a new stake in ARM in the 1st quarter valued at $50,000. Finally, BOKF NA increased its holdings in ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after buying an additional 100 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Stock Up 8.6 %

The business’s 50 day moving average price is 119.78 and its 200-day moving average price is 106.52.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, May 8th. The company reported 0.36 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 during the quarter, compared to the consensus estimate of 865.94 million. During the same quarter last year, the company earned $0.02 EPS. ARM’s revenue was up 46.6% on a year-over-year basis. Sell-side analysts forecast that Arm Holdings plc will post 0.85 earnings per share for the current year.

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.