ARM (NASDAQ:ARM) Trading Up 16% on Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM)’s share price shot up 16% on Wednesday after Susquehanna raised their price target on the stock from $118.00 to $140.00. Susquehanna currently has a neutral rating on the stock. ARM traded as high as $182.88 and last traded at $180.00. 15,389,874 shares changed hands during mid-day trading, an increase of 181% from the average session volume of 5,472,844 shares. The stock had previously closed at $155.20.

Several other analysts also recently commented on the company. UBS Group began coverage on ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Loop Capital raised their price target on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Barclays upped their price objective on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.09.

Institutional Trading of ARM

A number of institutional investors and hedge funds have recently bought and sold shares of ARM. ORG Partners LLC purchased a new stake in ARM during the third quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC raised its position in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares in the last quarter. Quantbot Technologies LP purchased a new position in ARM during the 3rd quarter valued at about $52,000. Berbice Capital Management LLC bought a new position in ARM in the fourth quarter worth approximately $49,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Price Performance

The company has a market cap of $186.66 billion, a P/E ratio of 297.16, a P/E/G ratio of 6.97 and a beta of 4.53. The business has a 50-day moving average of $137.82 and a two-hundred day moving average of $140.73.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. Equities analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

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.