ARM (NASDAQ:ARM) Trading Up 3.8%

Arm Holdings plc (NASDAQ:ARM) shares rose 3.8% on Tuesday . The company traded as high as 98.37 and last traded at 96.62. Approximately 5,694,717 shares traded hands during trading, a decline of 61% from the average daily volume of 14,790,378 shares. The stock had previously closed at 93.11.

Analysts Set New Price Targets

ARM has been the topic of a number of research reports. TD Cowen lifted their target price on shares of ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. The Goldman Sachs Group lifted their target price on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. KeyCorp lifted their target price on shares of ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Susquehanna reaffirmed a “neutral” rating and set a $85.00 target price on shares of ARM in a research note on Thursday, April 4th. Finally, BNP Paribas lowered shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of 90.28.

ARM Trading Down 2.3 %

The firm’s fifty day moving average price is 126.31 and its two-hundred day moving average price is 87.50.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating the consensus estimate of 0.25 by 0.04. The company had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. ARM’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that Arm Holdings plc will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About ARM

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.