ARM (NASDAQ:ARM) Trading Up 2%

Arm Holdings plc (NASDAQ:ARM) rose 2% on Wednesday . The company traded as high as 166.87 and last traded at 166.77. Approximately 3,274,438 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 13,181,356 shares. The stock had previously closed at 163.46.

Wall Street Analyst Weigh In

ARM has been the topic of several recent analyst reports. Sanford C. Bernstein lifted their target price on ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a research note on Thursday, May 16th. Evercore ISI reduced their price objective on shares of ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Wells Fargo & Company boosted their target price on shares of ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. BNP Paribas cut shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a research note on Friday, April 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $180.00 price objective on shares of ARM in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of 103.68.

ARM Stock Up 3.6 %

The firm has a fifty day moving average price of 128.97 and a two-hundred day moving average price of 112.89.

ARM (NASDAQ:ARM) last released its 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. The business had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. The business’s revenue was up 46.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 earnings per share. As a group, research analysts anticipate that Arm Holdings plc will post 0.85 EPS for the current year.

Institutional Trading of ARM

A number of large investors have recently modified their holdings of ARM. Mark Sheptoff Financial Planning LLC purchased a new position in ARM during the 1st quarter valued at about $25,000. Ancora Advisors LLC bought a new position in ARM in the third quarter worth approximately $32,000. SOA Wealth Advisors LLC. purchased a new stake in ARM during the first quarter worth $35,000. Naples Money Management LLC boosted its position in ARM by 47.8% during the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after acquiring an additional 110 shares in the last quarter. Finally, Westside Investment Management Inc. purchased a new position in shares of ARM in the 3rd quarter valued at $43,000. Hedge funds and other institutional investors 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.