ARM (NASDAQ:ARM) Trading 0.9% Higher

Arm Holdings plc (NASDAQ:ARM)’s share price traded up 0.9% on Tuesday . The stock traded as high as $128.47 and last traded at $126.68. 2,082,178 shares changed hands during trading, a decline of 83% from the average session volume of 12,087,273 shares. The stock had previously closed at $125.54.

Analysts Set New Price Targets

A number of research firms have recently commented on ARM. 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 lifted their price objective on shares of ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. HSBC cut ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their target price on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.56.

ARM Trading Up 1.4 %

The company has a market capitalization of $133.36 billion and a P/E ratio of 124.78. The business has a 50 day moving average price of $142.39 and a 200 day moving average price of $132.79.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. During the same period in the previous year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. On average, analysts forecast that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Schroder Investment Management Group acquired a new position in shares of ARM in the 4th quarter valued at approximately $480,194,000. Mubadala Investment Co PJSC bought a new position in ARM during the fourth quarter worth $150,437,000. Wellington Management Group LLP increased its stake in ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after purchasing an additional 1,611,926 shares in the last quarter. Robeco Schweiz AG boosted its position in shares of ARM by 220.3% during the 4th quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after purchasing an additional 1,465,000 shares in the last quarter. Finally, Capstone Investment Advisors LLC increased its position in ARM by 362.6% in the 4th quarter. Capstone Investment Advisors LLC now owns 902,000 shares of the company’s stock valued at $67,781,000 after buying an additional 707,000 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

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.