ARM (NASDAQ:ARM) Trading 2.9% Higher

Arm Holdings plc (NASDAQ:ARM)’s share price shot up 2.9% on Thursday . The company traded as high as 170.66 and last traded at 168.24. 6,649,200 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 13,209,642 shares. The stock had previously closed at 163.46.

Analyst Ratings Changes

A number of research firms have commented on ARM. Susquehanna restated a “neutral” rating and set a $85.00 target price on shares of ARM in a research report on Thursday, April 4th. Mizuho boosted their price target on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, May 9th. BNP Paribas cut ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a research report on Friday, April 19th. Finally, KeyCorp lifted their target price on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, ARM currently has an average rating of “Hold” and an average price target of 103.68.

ARM Price Performance

The business’s fifty day moving average is 130.34 and its 200-day moving average is 113.27.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. During the same quarter last year, the company earned $0.02 earnings per share. The business’s quarterly revenue was up 46.6% compared to the same quarter last year. As a group, equities analysts anticipate that Arm Holdings plc will post 0.85 EPS for the current year.

Institutional Trading of ARM

Several institutional investors and hedge funds have recently bought and sold shares of the company. Modus Advisors LLC grew its position in shares of ARM by 8.5% in the 2nd quarter. Modus Advisors LLC now owns 3,696 shares of the company’s stock worth $605,000 after acquiring an additional 288 shares in the last quarter. Transcend Capital Advisors LLC boosted its holdings in shares of ARM by 32.4% in the 2nd quarter. Transcend Capital Advisors LLC now owns 2,250 shares of the company’s stock valued at $368,000 after buying an additional 550 shares during the period. Cetera Advisors LLC bought a new stake in shares of ARM during the 1st quarter valued at about $726,000. Cetera Investment Advisers acquired a new stake in shares of ARM during the 1st quarter worth approximately $3,425,000. Finally, Virtu Financial LLC raised its position in shares of ARM by 198.6% during the 1st quarter. Virtu Financial LLC now owns 51,016 shares of the company’s stock worth $6,376,000 after purchasing an additional 33,931 shares during the period. Institutional investors and hedge funds 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.