ARM (NASDAQ:ARM) Trading 0.1% Higher

Arm Holdings plc (NASDAQ:ARM)’s stock price shot up 0.1% during mid-day trading on Tuesday . The company traded as high as 161.69 and last traded at 158.95. 1,864,208 shares were traded during mid-day trading, a decline of 86% from the average session volume of 13,230,842 shares. The stock had previously closed at 158.83.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BNP Paribas cut ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research note on Friday, April 19th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, May 9th. The Goldman Sachs Group increased their target price on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Bank of America lifted their price target on shares of ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, Evercore ISI decreased their price objective on ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of 103.68.

ARM Trading Up 2.9 %

The business’s 50-day moving average is 130.34 and its 200-day moving average is 113.27.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.30 by 0.06. The business had revenue of 928.00 million during the quarter, compared to analysts’ expectations of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. The company’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. Equities analysts anticipate that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

A number of hedge funds and other institutional investors have recently made changes to their positions in ARM. BOKF NA lifted its stake in shares of ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the period. Comerica Bank raised its position in shares of ARM by 6.1% in the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after acquiring an additional 103 shares during the period. Naples Money Management LLC boosted its stake in shares of ARM by 47.8% during the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after acquiring an additional 110 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC grew its position in shares of ARM by 2.9% during the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock valued at $645,000 after acquiring an additional 145 shares during the period. Finally, JTC Employer Solutions Trustee Ltd increased its stake in shares of ARM by 14.8% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 1,550 shares of the company’s stock valued at $195,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.