Analysts Set Arm Holdings plc (NASDAQ:ARM) Price Target at $165.23

Arm Holdings plc (NASDAQ:ARM) has received an average recommendation of “Moderate Buy” from the twenty-seven analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, nineteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $165.23.

ARM has been the subject of a number of recent analyst reports. Loop Capital raised their price target on shares of ARM from $180.00 to $195.00 and gave the company a “buy” rating in a report on Monday, February 10th. Rosenblatt Securities increased their price objective on shares of ARM from $180.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Jefferies Financial Group increased their price objective on shares of ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th.

ARM Trading Down 1.5 %

ARM opened at $117.91 on Monday. The company has a fifty day simple moving average of $143.70 and a 200 day simple moving average of $141.00. The firm has a market cap of $123.55 billion, a price-to-earnings ratio of 155.15, a PEG ratio of 6.33 and a beta of 4.77. ARM has a twelve month low of $85.61 and a twelve month high of $188.75.

Institutional Trading of ARM

Several hedge funds have recently bought and sold shares of ARM. Apollon Wealth Management LLC lifted its position in ARM by 79.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,338 shares of the company’s stock valued at $334,000 after purchasing an additional 1,035 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in ARM by 46.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 31,487 shares of the company’s stock valued at $4,503,000 after purchasing an additional 10,047 shares during the last quarter. Victory Capital Management Inc. lifted its position in ARM by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 56,421 shares of the company’s stock valued at $8,069,000 after purchasing an additional 2,745 shares during the last quarter. OneDigital Investment Advisors LLC bought a new stake in ARM in the 3rd quarter valued at about $223,000. Finally, CIBC Asset Management Inc lifted its position in ARM by 9.8% in the 3rd quarter. CIBC Asset Management Inc now owns 20,585 shares of the company’s stock valued at $2,944,000 after purchasing an additional 1,840 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.