ARM (NASDAQ:ARM) Trading 1.3% Higher

Shares of Arm Holdings plc (NASDAQ:ARM) shot up 1.3% during trading on Tuesday . The stock traded as high as $131.06 and last traded at $130.57. 1,694,410 shares traded hands during trading, a decline of 86% from the average session volume of 12,397,058 shares. The stock had previously closed at $128.90.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARM. Loop Capital lifted their price target on ARM from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Barclays increased their price target on shares of ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Sanford C. Bernstein upgraded ARM from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $92.00 to $100.00 in a research report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.56.

ARM Stock Performance

The company has a market cap of $131.31 billion and a P/E ratio of 144.29. The company has a fifty day moving average price of $148.94 and a two-hundred day moving average price of $132.97.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. Research analysts anticipate that Arm Holdings plc will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ARM

A number of hedge funds and other institutional investors have recently bought and sold shares of ARM. Schroder Investment Management Group bought a new position in shares of ARM in the fourth quarter valued at about $480,194,000. Mubadala Investment Co PJSC acquired a new position in ARM in the 4th quarter valued at $150,437,000. Wellington Management Group LLP lifted its holdings in shares of ARM by 56.4% during the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after buying an additional 1,611,926 shares in the last quarter. Robeco Schweiz AG boosted its position in shares of ARM by 220.3% in the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after acquiring an additional 1,465,000 shares during the period. Finally, Capstone Investment Advisors LLC grew its stake in shares of ARM by 362.6% in the fourth quarter. Capstone Investment Advisors LLC now owns 902,000 shares of the company’s stock valued at $67,781,000 after acquiring an additional 707,000 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.

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.