ARM (NASDAQ:ARM) Trading 3.2% Higher

Arm Holdings plc (NASDAQ:ARM) shot up 3.2% during mid-day trading on Tuesday . The company traded as high as 169.25 and last traded at 168.71. 1,968,141 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 12,765,120 shares. The stock had previously closed at 163.55.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ARM. BNP Paribas lowered shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a research report on Friday, April 19th. Susquehanna reaffirmed a “neutral” rating and issued a $85.00 target price on shares of ARM in a report on Thursday, April 4th. Guggenheim raised their price target on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Bank of America increased their target price on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, KeyCorp lifted 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus target price of 109.08.

ARM Stock Up 5.2 %

The company has a 50 day moving average price of 148.55 and a 200-day moving average price of 122.93.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.30 by 0.06. The firm had revenue of 928.00 million during 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 company’s revenue was up 46.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 EPS. Analysts expect that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BOKF NA raised its position in shares of ARM by 33.3% during the first quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after acquiring an additional 100 shares during the last quarter. Comerica Bank lifted its position in shares of ARM by 6.1% in the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC boosted its stake in shares of ARM by 47.8% in the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after purchasing an additional 110 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC increased its position in shares of ARM by 2.9% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after buying an additional 145 shares during the period. Finally, SOA Wealth Advisors LLC. raised its stake in ARM by 62.5% during the second quarter. SOA Wealth Advisors LLC. now owns 455 shares of the company’s stock worth $74,000 after buying an additional 175 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

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.