Arm Holdings plc (NASDAQ:ARM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Arm Holdings plc (NASDAQ:ARM - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-seven analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $165.23.

Several brokerages recently issued reports on ARM. JPMorgan Chase & Co. raised their target price on ARM from $160.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Jefferies Financial Group raised their target price on ARM from $170.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Benchmark restated a "hold" rating on shares of ARM in a research note on Thursday, February 6th. Barclays lifted their target price on shares of ARM from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, Raymond James lifted their target price on shares of ARM from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th.

ARM Trading Up 1.0 %

NASDAQ:ARM traded up $1.16 during trading hours on Monday, hitting $119.07. 2,328,029 shares of the company were exchanged, compared to its average volume of 7,598,804. The stock has a market capitalization of $124.77 billion, a price-to-earnings ratio of 156.67, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77. ARM has a one year low of $85.61 and a one year high of $188.75. The company has a fifty day simple moving average of $143.70 and a 200 day simple moving average of $141.00.

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Hedge Funds Weigh In On ARM

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tufton Capital Management increased its position in shares of ARM by 1.5% during the fourth quarter. Tufton Capital Management now owns 4,425 shares of the company's stock valued at $546,000 after buying an additional 65 shares during the period. Valley National Advisers Inc. grew its holdings in ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company's stock worth $75,000 after purchasing an additional 72 shares during the period. Zullo Investment Group Inc. grew its holdings in ARM by 4.6% in the fourth quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company's stock worth $236,000 after purchasing an additional 85 shares during the period. GeoWealth Management LLC grew its holdings in ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after purchasing an additional 92 shares during the period. Finally, Cibc World Markets Corp grew its holdings in ARM by 3.5% in the fourth quarter. Cibc World Markets Corp now owns 2,838 shares of the company's stock worth $350,000 after purchasing an additional 96 shares during the period. Hedge funds and other 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.