ARM (NASDAQ:ARM) Shares Up 1.2% Following Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s stock price rose 1.2% during trading on Monday 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 $151.60 and last traded at $149.26. Approximately 4,214,684 shares changed hands during trading, a decline of 3% from the average daily volume of 4,336,615 shares. The stock had previously closed at $147.52.

Several other research firms have also commented on ARM. TD Cowen increased their price objective on shares of ARM from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price target on ARM from $155.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on ARM from $140.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Loop Capital boosted their target price on ARM from $130.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, Susquehanna lifted their price objective on shares of ARM from $115.00 to $118.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, ARM currently has an average rating of "Moderate Buy" and a consensus price target of $151.09.

Institutional Investors Weigh In On ARM

Large investors have recently modified their holdings of the business. American Century Companies Inc. bought a new position in shares of ARM in the 2nd quarter worth $5,885,000. Envestnet Asset Management Inc. raised 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 worth $6,202,000 after purchasing an additional 6,311 shares in the last quarter. Blair William & Co. IL raised 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 worth $903,000 after purchasing an additional 3,100 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of ARM by 674.8% during the second quarter. Pacer Advisors Inc. now owns 6,493 shares of the company's stock valued at $1,062,000 after buying an additional 5,655 shares during the last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in shares of ARM in the 2nd quarter valued at about $4,729,000. Institutional investors own 7.53% of the company's stock.

ARM Trading Up 4.0 %

The business's 50-day moving average price is $137.52 and its 200-day moving average price is $140.92. The stock has a market cap of $162.62 billion, a PE ratio of 258.67, a P/E/G ratio of 6.97 and a beta of 4.53.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.04. The business 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 business's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, analysts predict that Arm Holdings plc will post 0.84 earnings per share for the current 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.