ARM (NASDAQ:ARM) Trading 1.3% Higher

Arm Holdings plc (NASDAQ:ARM)’s share price traded up 1.3% during trading on Thursday . The stock traded as high as 128.32 and last traded at 127.20. 3,334,129 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 16,380,453 shares. The stock had previously closed at 125.62.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARM. KeyCorp raised their price objective on ARM from $75.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. New Street Research reaffirmed a “neutral” rating and set a $110.00 target price on shares of ARM in a research note on Tuesday, February 27th. Daiwa Capital Markets cut ARM from a “buy” rating to a “neutral” rating and raised their price objective for the company from $63.00 to $130.00 in a research note on Friday, February 16th. Mizuho lifted their target price on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, TD Cowen lifted their target price on ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of 85.78.

ARM Stock Down 0.5 %

The firm’s fifty day simple moving average is 114.04.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. ARM’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that Arm Holdings plc will post 1.21 EPS for the current fiscal year.

Institutional Trading of ARM

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in ARM by 47.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock valued at $115,000 after buying an additional 494 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in ARM during the 3rd quarter valued at approximately $27,000. Hoey Investments Inc. purchased a new position in ARM during the 3rd quarter valued at approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ARM by 49.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock valued at $117,000 after buying an additional 514 shares in the last quarter. Finally, Centerpoint Advisors LLC purchased a new position in ARM during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.