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

Arm Holdings plc (NASDAQ:ARM) shot up 1.6% during mid-day trading 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.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARM. Rosenblatt Securities upped their price objective on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Raymond James upped their price objective on shares of ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Benchmark reaffirmed a “hold” rating on shares of ARM in a report on Thursday, February 6th. JPMorgan Chase & Co. upped their price objective on shares of ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group upped their target price on shares of ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus price target of $165.23.

ARM Trading Down 1.4 %

The company has a market cap of $125.45 billion, a P/E ratio of 157.53, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77. The firm’s 50 day moving average price is $144.25 and its 200-day moving average price is $141.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GeoWealth Management LLC boosted its stake in ARM by 53.8% during the 4th 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 position in ARM during the 4th quarter worth approximately $40,000. Berbice Capital Management LLC bought a new position in ARM during the 4th quarter worth approximately $49,000. Quantbot Technologies LP bought a new position in ARM during the 3rd quarter worth approximately $52,000. Finally, Valley National Advisers Inc. boosted its stake in ARM by 13.3% during the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

About ARM

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.