ARM (NASDAQ:ARM) Stock Price Up 0.5%

Arm Holdings plc (NASDAQ:ARM) shares were up 0.5% during trading on Tuesday . The stock traded as high as 188.75 and last traded at 185.65. Approximately 3,708,433 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 13,116,007 shares. The stock had previously closed at 184.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. KeyCorp upped their target price on shares of ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of ARM in a research report on Monday, May 6th. Susquehanna reiterated a “neutral” rating and issued a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. Finally, Wells Fargo & Company upped their target price on ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. 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. Based on data from MarketBeat.com, ARM has an average rating of “Hold” and a consensus target price of 103.68.

ARM Stock Performance

The stock’s 50-day moving average price is 138.40 and its 200-day moving average price is 117.14.

ARM (NASDAQ:ARM) last posted its quarterly earnings data 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 firm had revenue of 928.00 million for the quarter, compared to the consensus estimate of 865.94 million. During the same quarter in the prior year, the business earned $0.02 EPS. The business’s revenue for the quarter was up 46.6% compared to the same quarter last year. Research analysts anticipate that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC acquired a new stake in ARM during the 1st quarter worth approximately $25,000. SOA Wealth Advisors LLC. acquired a new position in shares of ARM during the first quarter worth about $35,000. Mather Group LLC. acquired a new stake in ARM in the 2nd quarter valued at approximately $41,000. Naples Money Management LLC lifted its stake in ARM by 47.8% in the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after acquiring an additional 110 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new position in ARM during the 4th quarter worth approximately $46,000. 7.53% of the stock is owned by 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.