ARM (NASDAQ:ARM) Trading Up 1.7% Following Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM)’s stock price was up 1.7% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $155.00 to $162.00. Wells Fargo & Company currently has an overweight rating on the stock. ARM traded as high as $143.13 and last traded at $139.36. Approximately 944,556 shares traded hands during trading, a decline of 78% from the average daily volume of 4,285,683 shares. The stock had previously closed at $137.07.

Other equities research analysts have also recently issued reports about the company. UBS Group started coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective on the stock. William Blair started coverage on ARM in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. TD Cowen lifted their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI raised their target price on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and an average price target of $150.64.

Institutional Trading of ARM

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew 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 acquiring an additional 806,676 shares in the last quarter. Sei Investments Co. grew its stake in shares of ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of ARM by 21.7% in the third 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 in the last quarter. Finally, Marsico Capital Management LLC acquired a new position in shares of ARM in the second quarter worth $33,207,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

The company’s 50 day simple moving average is $137.34 and its 200 day simple moving average is $141.38. The firm has a market cap of $154.45 billion, a price-to-earnings ratio of 245.67, a P/E/G ratio of 7.15 and a beta of 4.53.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Arm Holdings plc will post 0.79 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.