ARM (NASDAQ:ARM) Shares Up 1.6% – What’s Next?

Shares of Arm Holdings plc (NASDAQ:ARM) shot up 1.6% on Monday . The stock traded as high as $121.31 and last traded at $119.88. 1,004,979 shares traded hands during trading, a decline of 87% from the average session volume of 7,640,773 shares. The stock had previously closed at $117.94.

Analysts Set New Price Targets

Several research firms have weighed in on ARM. JPMorgan Chase & Co. increased their price objective on ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of ARM in a report on Thursday, February 6th. Jefferies Financial Group increased their target price on ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. UBS Group began coverage on ARM in a report on Monday, November 25th. They set a “buy” rating and a $160.00 target price on the stock. Finally, Citigroup increased their target price on ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and an average target price of $165.23.

ARM Stock Up 4.4 %

The stock has a 50 day moving average price of $145.26 and a 200 day moving average price of $141.33. The stock has a market capitalization of $129.04 billion, a price-to-earnings ratio of 162.02, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77.

Hedge Funds Weigh In On ARM

Hedge funds have recently made changes to their positions in the stock. GeoWealth Management LLC raised its position in shares of ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after acquiring an additional 92 shares during the last quarter. Colonial Trust Co SC bought a new stake in ARM in the fourth quarter worth approximately $40,000. Quantbot Technologies LP bought a new stake in ARM in the third quarter worth approximately $52,000. Berbice Capital Management LLC bought a new stake in ARM in the fourth quarter worth approximately $49,000. Finally, Valley National Advisers Inc. increased its holdings in ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after purchasing an additional 72 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.