ARM (NASDAQ:ARM) Shares Up 0.9% Following Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM) traded up 0.9% on Tuesday after Loop Capital raised their price target on the stock from $180.00 to $195.00. Loop Capital currently has a buy rating on the stock. ARM traded as high as $163.11 and last traded at $162.22. 1,245,851 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 6,846,593 shares. The stock had previously closed at $160.84.

Other analysts also recently issued reports about the company. Evercore ISI lifted their target price on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Susquehanna lifted their price objective on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on shares of ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Rosenblatt Securities raised their target price on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, UBS Group started coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $162.83.

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after acquiring an additional 228,467 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of ARM by 4,506.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock worth $107,774,000 after purchasing an additional 791,392 shares during the period. Sei Investments Co. boosted its position in ARM by 19.7% in the fourth quarter. Sei Investments Co. now owns 507,507 shares of the company’s stock valued at $62,606,000 after buying an additional 83,489 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC increased its holdings in ARM by 19.4% in the 4th quarter. Zevenbergen Capital Investments LLC now owns 470,533 shares of the company’s stock worth $58,045,000 after buying an additional 76,576 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Trading Down 1.9 %

The business’s 50-day simple moving average is $145.10 and its 200-day simple moving average is $139.72. The company has a market capitalization of $165.28 billion, a PE ratio of 207.56, a price-to-earnings-growth ratio of 7.83 and a beta of 4.57.

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.