ARM (NASDAQ:ARM) Stock Price Up 1.2% After Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM)’s stock price shot up 1.2% on Monday after Barclays raised their price target on the stock from $145.00 to $155.00. Barclays currently has an overweight rating on the stock. ARM traded as high as $151.60 and last traded at $149.26. 4,214,684 shares traded hands during trading, a decline of 3% from the average session volume of 4,336,615 shares. The stock had previously closed at $147.52.

ARM has been the topic of several other reports. UBS Group began coverage on ARM in a report on Monday, November 25th. They set a “buy” rating and a $160.00 price target on the stock. Susquehanna lifted their price objective on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price objective on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. TD Cowen lifted their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Loop Capital lifted their price objective on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.09.

Institutional Trading of ARM

Large investors have recently bought and sold shares of the company. Modus Advisors LLC boosted its position in shares of ARM by 300.2% in the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock worth $2,212,000 after purchasing an additional 13,453 shares in the last quarter. KP Management LLC boosted its position in shares of ARM by 28.6% in the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after purchasing an additional 10,000 shares in the last quarter. XTX Topco Ltd raised its holdings in ARM by 150.1% in the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock worth $928,000 after acquiring an additional 3,893 shares during the last quarter. Willner & Heller LLC raised its holdings in ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after acquiring an additional 4,484 shares during the last quarter. Finally, Avalon Global Asset Management LLC bought a new position in ARM in the 3rd quarter valued at approximately $8,581,000. 7.53% of the stock is owned by institutional investors.

ARM Stock Performance

The firm has a market capitalization of $156.40 billion, a P/E ratio of 248.77, a PEG ratio of 6.57 and a beta of 4.53. The firm has a 50-day moving average of $137.37 and a 200-day moving average of $141.05.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, research analysts forecast that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

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.