ARM (NASDAQ:ARM) Shares Up 2.6% Following Analyst Upgrade

Shares of Arm Holdings plc (NASDAQ:ARM - Get Free Report) rose 2.6% during mid-day trading on Friday after Barclays raised their price target on the stock from $145.00 to $155.00. Barclays currently has an overweight rating on the stock. ARM traded as high as $151.45 and last traded at $151.41. Approximately 1,504,876 shares traded hands during trading, a decline of 65% from the average daily volume of 4,284,777 shares. The stock had previously closed at $147.52.

Several other research firms have also recently issued reports on ARM. UBS Group initiated coverage on ARM in a report on Monday, November 25th. They set a "buy" rating and a $160.00 price objective on the stock. Loop Capital lifted their target price on ARM from $130.00 to $180.00 and gave the company a "buy" rating in a report on Monday, November 11th. Sanford C. Bernstein cut ARM from a "market perform" rating to an "underperform" rating and set a $100.00 target price on the stock. in a report on Thursday, October 31st. Evercore ISI lifted their target price on ARM from $173.00 to $176.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ARM in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $151.09.

Institutional Trading of ARM

Hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. bought a new stake in ARM in the second quarter valued at about $5,885,000. Envestnet Asset Management Inc. increased its holdings in ARM by 20.0% in the second quarter. Envestnet Asset Management Inc. now owns 37,902 shares of the company's stock valued at $6,202,000 after buying an additional 6,311 shares during the last quarter. Blair William & Co. IL increased its holdings in ARM by 128.1% in the second quarter. Blair William & Co. IL now owns 5,520 shares of the company's stock valued at $903,000 after buying an additional 3,100 shares during the last quarter. Elite Wealth Management Inc. increased its holdings in ARM by 89.8% in the second quarter. Elite Wealth Management Inc. now owns 41,496 shares of the company's stock valued at $6,790,000 after buying an additional 19,633 shares during the last quarter. Finally, WealthTrust Asset Management LLC bought a new stake in ARM in the second quarter valued at about $1,083,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Price Performance

The stock has a market capitalization of $156.40 billion, a P/E ratio of 248.77, a price-to-earnings-growth ratio of 6.57 and a beta of 4.53. The company has a fifty day moving average of $137.33 and a two-hundred day moving average of $141.46.

ARM (NASDAQ:ARM - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same period in the previous year, the firm posted $0.36 earnings per share. ARM's quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Arm Holdings plc will post 0.84 EPS 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.