ARM (NASDAQ:ARM) Stock Price Up 3.2%

Arm Holdings plc (NASDAQ:ARM) rose 3.2% during trading on Wednesday . The company traded as high as 103.75 and last traded at 99.15. Approximately 5,626,266 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 14,752,999 shares. The stock had previously closed at 96.04.

Wall Street Analyst Weigh In

ARM has been the topic of a number of recent research reports. Susquehanna restated a “neutral” rating and issued a $85.00 target price on shares of ARM in a research note on Thursday, April 4th. Evercore ISI began coverage on ARM in a research note on Tuesday, April 16th. They set an “outperform” rating and a $156.00 target price for the company. Rosenblatt Securities increased their target price on ARM from $140.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Barclays increased their target price on ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, KeyCorp increased their target price on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of 90.28.

ARM Price Performance

The stock has a 50-day simple moving average of 125.59 and a 200 day simple moving average of 87.57.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.25 by 0.04. The company had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. The business’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities research analysts predict that Arm Holdings plc will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ARM. SG Americas Securities LLC acquired a new stake in ARM during the 3rd quarter worth $170,000. FengHe Fund Management Pte. Ltd. acquired a new stake in shares of ARM in the 3rd quarter valued at about $19,833,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of ARM in the 3rd quarter valued at about $375,000. Commonwealth Equity Services LLC acquired a new stake in shares of ARM in the 3rd quarter valued at about $629,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of ARM in the 3rd quarter valued at about $107,000. 7.53% of the stock is currently owned by institutional investors.

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.