ARM (NASDAQ:ARM) Trading 1.3% Higher

Arm Holdings plc (NASDAQ:ARM)’s share price traded up 1.3% during trading on Thursday . The stock traded as high as 128.32 and last traded at 127.20. 3,334,129 shares changed hands during trading, a decline of 80% from the average session volume of 16,380,453 shares. The stock had previously closed at 125.62.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen lifted their price target on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. New Street Research reissued a “neutral” rating and set a $110.00 target price on shares of ARM in a research report on Tuesday, February 27th. Daiwa Capital Markets cut ARM from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. The Goldman Sachs Group increased their price target on ARM from $65.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Mizuho increased their price target on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, ARM presently has an average rating of “Hold” and a consensus target price of 85.78.

ARM Stock Down 0.5 %

The business’s 50-day simple moving average is 114.04.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The firm’s revenue was up 13.8% compared to the same quarter last year. On average, analysts forecast that Arm Holdings plc will post 1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARM. Schroder Investment Management Group purchased a new stake in shares of ARM in the 4th quarter valued at about $480,194,000. Jennison Associates LLC purchased a new stake in ARM during the 3rd quarter valued at approximately $339,965,000. FMR LLC purchased a new stake in ARM during the 3rd quarter valued at approximately $242,812,000. Wellington Management Group LLP purchased a new position in shares of ARM during the 3rd quarter worth approximately $152,896,000. Finally, Invesco Ltd. purchased a new position in shares of ARM during the 3rd quarter worth approximately $143,092,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.