ARM (NASDAQ:ARM) Trading 1.6% Higher - What's Next?

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s stock price rose 1.6% during trading on Monday . The company traded as high as $121.31 and last traded at $119.88. Approximately 1,004,979 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 7,640,773 shares. The stock had previously closed at $117.94.

Wall Street Analyst Weigh In

ARM has been the subject of a number of recent research reports. Rosenblatt Securities boosted their price objective on shares of ARM from $180.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Benchmark reissued a "hold" rating on shares of ARM in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a report on Thursday, February 6th. JPMorgan Chase & Co. upped their target price on shares of ARM from $160.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Mizuho upped their target price on shares of ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $165.23.

ARM Stock Performance

The firm has a market capitalization of $124.21 billion, a P/E ratio of 155.88, a P/E/G ratio of 6.33 and a beta of 4.77. The stock's 50 day simple moving average is $143.18 and its 200 day simple moving average is $140.84.

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Hedge Funds Weigh In On ARM

A number of hedge funds and other institutional investors have recently modified their holdings of ARM. Tufton Capital Management lifted its position in 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 acquiring an additional 65 shares during the last quarter. Valley National Advisers Inc. lifted its position in ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company's stock valued at $75,000 after acquiring an additional 72 shares during the last quarter. Zullo Investment Group Inc. lifted its position in ARM by 4.6% during the fourth quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company's stock valued at $236,000 after acquiring an additional 85 shares during the last quarter. GeoWealth Management LLC lifted its position in ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after acquiring an additional 92 shares during the last quarter. Finally, Cibc World Markets Corp lifted its position in ARM by 3.5% during the fourth quarter. Cibc World Markets Corp now owns 2,838 shares of the company's stock valued at $350,000 after acquiring an additional 96 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Company Profile

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.