ARM (NASDAQ:ARM) Shares Up 2.3%

Shares of Arm Holdings plc (NASDAQ:ARM) were up 2.3% on Tuesday . The company traded as high as 145.00 and last traded at 141.52. Approximately 3,839,661 shares changed hands during trading, a decline of 77% from the average daily volume of 16,396,252 shares. The stock had previously closed at 138.31.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ARM shares. Daiwa Capital Markets downgraded ARM from a “buy” rating to a “neutral” rating and upped their target price for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft cut ARM from a “buy” rating to a “hold” rating and raised their target price for the company from $60.00 to $70.00 in a research report on Monday, December 18th. New Street Research reaffirmed a “neutral” rating and issued a $110.00 price target on shares of ARM in a research note on Tuesday, February 27th. JPMorgan Chase & Co. raised their price objective on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, The Goldman Sachs Group boosted their target price on ARM from $65.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of 85.78.

ARM Stock Performance

The company has a fifty day moving average of 114.04.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. The firm’s revenue was up 13.8% on a year-over-year basis. Equities research analysts forecast that Arm Holdings plc will post 1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

A number of large investors have recently bought and sold shares of ARM. HighPoint Advisor Group LLC acquired a new stake in ARM in the 4th quarter valued at about $152,000. PNC Financial Services Group Inc. increased its holdings in shares of ARM by 47.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock valued at $115,000 after purchasing an additional 494 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in ARM in the 4th quarter worth approximately $388,000. Fisher Asset Management LLC acquired a new position in ARM during the 4th quarter worth $102,000. Finally, Mubadala Investment Co PJSC bought a new position in ARM in the 4th quarter valued at $150,437,000. 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.