ARM (NASDAQ:ARM) Shares Up 3.2%

Arm Holdings plc (NASDAQ:ARM) was up 3.2% on Wednesday . The company traded as high as 103.75 and last traded at 99.15. Approximately 5,626,266 shares changed hands during trading, a decline of 62% from the average daily volume of 14,752,999 shares. The stock had previously closed at 96.04.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ARM shares. BNP Paribas cut shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Friday, April 19th. Mizuho lifted their price target on shares of ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Daiwa Capital Markets cut shares of ARM from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. Evercore ISI assumed coverage on shares of ARM in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $156.00 price target on the stock. Finally, KeyCorp boosted their price objective on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of 90.28.

ARM Price Performance

The company’s 50 day moving average is 126.84 and its 200 day moving average is 87.41.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating the consensus estimate of 0.25 by 0.04. The company had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. ARM’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities analysts expect that Arm Holdings plc will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently bought and sold shares of the company. Jennison Associates LLC grew its holdings in ARM by 15.7% in the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after purchasing an additional 994,551 shares during the period. Schroder Investment Management Group purchased a new position in ARM during the fourth quarter worth about $480,194,000. FMR LLC bought a new stake in ARM in the third quarter worth about $242,812,000. Wellington Management Group LLP raised its position in ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after acquiring an additional 1,611,926 shares during the period. Finally, Invesco Ltd. bought a new stake in ARM in the third quarter worth about $143,092,000. Institutional investors 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.