ARM (NASDAQ:ARM) Trading Up 2.6%

Arm Holdings plc (NASDAQ:ARM) rose 2.6% during trading on Monday . The stock traded as high as 168.79 and last traded at 167.60. Approximately 2,631,037 shares changed hands during trading, a decline of 79% from the average daily volume of 12,817,271 shares. The stock had previously closed at 163.40.

Analyst Ratings Changes

Several analysts have recently commented on ARM shares. Sanford C. Bernstein upped their price objective on shares of ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a report on Thursday, May 16th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of ARM in a research note on Monday, May 6th. BNP Paribas downgraded shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a research note on Friday, April 19th. Guggenheim lifted their price target on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Bank of America lifted their price objective on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average price target of 109.08.

ARM Stock Performance

The stock’s 50 day simple moving average is 150.53 and its 200 day simple moving average is 123.90.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06. The business had revenue of 928.00 million for the quarter, compared to analysts’ expectations of 865.94 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business’s quarterly revenue was up 46.6% on a year-over-year basis. During the same period last year, the business earned $0.02 earnings per share. On average, equities research analysts forecast that Arm Holdings plc will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Large investors have recently bought and sold shares of the business. Citigroup Inc. bought a new stake in ARM in the 3rd quarter worth approximately $344,000. Atria Wealth Solutions Inc. purchased a new stake in shares of ARM in the 4th quarter worth $665,000. Rheos Capital Works Inc. lifted its stake in shares of ARM by 48.1% during the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after purchasing an additional 83,400 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of ARM during the 1st quarter worth $222,000. Finally, O Neil Global Advisors Inc. purchased a new stake in shares of ARM during the 4th quarter worth $664,000. 7.53% of the stock is currently owned by institutional investors.

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.