ARM (NASDAQ:ARM) Trading 1.7% Higher on Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM - Get Free Report) rose 1.7% on Tuesday after Wells Fargo & Company raised their price target on the stock from $155.00 to $162.00. Wells Fargo & Company currently has an overweight rating on the stock. ARM traded as high as $143.13 and last traded at $139.36. Approximately 944,556 shares were traded during trading, a decline of 78% from the average daily volume of 4,285,683 shares. The stock had previously closed at $137.07.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on ARM from $140.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Evercore ISI boosted their target price on shares of ARM from $173.00 to $176.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Benchmark started coverage on shares of ARM in a research note on Monday, September 16th. They issued a "hold" rating on the stock. Susquehanna raised their target price on shares of ARM from $115.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, William Blair began coverage on ARM in a report on Wednesday, September 18th. They issued an "outperform" rating for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $150.64.

Institutional Investors Weigh In On ARM

A number of large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company's stock valued at $1,161,670,000 after purchasing an additional 806,676 shares during the period. Sei Investments Co. lifted its position in ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company's stock worth $94,790,000 after buying an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company's stock valued at $52,279,000 after purchasing an additional 233,909 shares during the period. Franklin Resources Inc. grew its stake in shares of ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company's stock valued at $183,265,000 after buying an additional 228,467 shares during the period. Finally, Marsico Capital Management LLC purchased a new position in ARM in the second quarter worth approximately $33,207,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

The stock has a market capitalization of $146.76 billion, a price-to-earnings ratio of 233.44, a P/E/G ratio of 7.15 and a beta of 4.53. The business has a 50-day moving average of $137.35 and a 200-day moving average of $141.54.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. Equities analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

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.