ARM (NASDAQ:ARM) Trading 3.8% Higher

Arm Holdings plc (NASDAQ:ARM) shares shot up 3.8% during trading on Tuesday . The company traded as high as 98.37 and last traded at 96.62. 5,694,717 shares changed hands during trading, a decline of 61% from the average session volume of 14,790,378 shares. The stock had previously closed at 93.11.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ARM shares. Rosenblatt Securities raised their price target on ARM from $140.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Daiwa Capital Markets downgraded shares of ARM from a “buy” rating to a “neutral” rating and upped their price target for the company from $63.00 to $130.00 in a report on Friday, February 16th. KeyCorp raised their price objective on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Mizuho upped their target price on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on ARM from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, ARM presently has an average rating of “Hold” and a consensus target price of 90.28.

ARM Stock Performance

The stock’s 50 day simple moving average is 127.32 and its two-hundred day simple moving average is 87.12.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analysts’ expectations of 762.50 million. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts expect that Arm Holdings plc will post 0.36 EPS for the current year.

Institutional Trading of ARM

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp acquired a new stake in ARM in the 1st quarter valued at $86,000. Wesbanco Bank Inc. acquired a new position in ARM during the 1st quarter worth approximately $446,000. Strategic Blueprint LLC boosted its holdings in ARM by 98.0% in the 1st quarter. Strategic Blueprint LLC now owns 8,958 shares of the company’s stock worth $1,120,000 after acquiring an additional 4,433 shares during the period. Wealth Effects LLC acquired a new stake in ARM in the first quarter valued at approximately $462,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of ARM during the first quarter valued at approximately $5,655,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.