ARM (NASDAQ:ARM) Trading 0.1% Higher

Shares of Arm Holdings plc (NASDAQ:ARM) rose 0.1% on Tuesday . The company traded as high as 161.69 and last traded at 158.95. Approximately 1,864,208 shares changed hands during trading, a decline of 86% from the average daily volume of 13,230,842 shares. The stock had previously closed at 158.83.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America raised their target price on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Guggenheim boosted their price objective on ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Evercore ISI reduced their price target on ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price objective on shares of ARM in a research note on Monday, May 6th. Finally, Mizuho upped their target price on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of 103.68.

ARM Trading Up 1.6 %

The firm’s 50-day moving average price is 127.62 and its 200 day moving average price is 112.23.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. ARM had a return on equity of 16.94% and a net margin of 9.46%. The business had revenue of 928.00 million during the quarter, compared to analyst estimates of 865.94 million. During the same period in the prior year, the company posted $0.02 EPS. The business’s revenue for the quarter was up 46.6% compared to the same quarter last year. On average, research analysts expect that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC bought a new position in shares of ARM during the 3rd quarter valued at about $219,000. American Century Companies Inc. acquired a new position in ARM in the third quarter worth approximately $54,800,000. Citigroup Inc. acquired a new stake in shares of ARM during the 3rd quarter valued at $344,000. Atria Wealth Solutions Inc. acquired a new stake in shares of ARM during the 4th quarter valued at $665,000. Finally, Rheos Capital Works Inc. increased its stake in ARM by 48.1% in the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after purchasing an additional 83,400 shares in the last quarter. Institutional investors and hedge funds 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.