ARM (NASDAQ:ARM) Shares Up 4.6%

Arm Holdings plc (NASDAQ:ARM)’s share price shot up 4.6% during mid-day trading on Monday . The company traded as high as 93.63 and last traded at 91.23. 7,279,477 shares changed hands during trading, a decline of 51% from the average session volume of 14,813,479 shares. The stock had previously closed at 87.19.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARM. The Goldman Sachs Group boosted their target price on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Barclays upped their price objective on shares of ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Evercore ISI initiated coverage on shares of ARM in a report on Tuesday, April 16th. They issued an “outperform” rating and a $156.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Mizuho increased their target price on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, ARM presently has a consensus rating of “Hold” and a consensus price target of 90.28.

ARM Price Performance

The business’s 50 day moving average is 126.84 and its two-hundred day moving average is 87.41.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, topping the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. ARM’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Arm Holdings plc will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARM. Vontobel Holding Ltd. bought a new stake in ARM in the third quarter valued at $581,000. SG Americas Securities LLC purchased a new position in shares of ARM in the 3rd quarter worth about $170,000. Cedar Brook Financial Partners LLC purchased a new position in shares of ARM in the 3rd quarter worth about $206,000. Newbridge Financial Services Group Inc. purchased a new position in shares of ARM in the 3rd quarter worth about $114,000. Finally, FengHe Fund Management Pte. Ltd. purchased a new position in shares of ARM in the 3rd quarter worth about $19,833,000. Institutional investors own 7.53% of the company’s stock.

About ARM

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.