ARM (NASDAQ:ARM) Shares Up 0.9%

Shares of Arm Holdings plc (NASDAQ:ARM) traded up 0.9% during mid-day trading on Tuesday . The company traded as high as $128.47 and last traded at $126.68. 2,082,178 shares were traded during trading, a decline of 83% from the average session volume of 12,087,273 shares. The stock had previously closed at $125.54.

Analysts Set New Price Targets

ARM has been the subject of a number of analyst reports. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Morgan Stanley raised shares of ARM from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $107.00 to $190.00 in a report on Friday, July 19th. Bank of America upped their target price on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Loop Capital upped their target price on ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Guggenheim boosted their price objective on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.56.

ARM Price Performance

The stock’s 50-day simple moving average is $142.39 and its two-hundred day simple moving average is $132.79. The firm has a market capitalization of $133.36 billion and a P/E ratio of 124.78.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. On average, analysts forecast that Arm Holdings plc will post 0.82 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 the stock. Sanctuary Advisors LLC purchased a new stake in shares of ARM during the 2nd quarter valued at about $737,000. NCP Inc. boosted its stake in ARM by 464.5% during the second quarter. NCP Inc. now owns 35,000 shares of the company’s stock worth $5,727,000 after buying an additional 28,800 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of ARM during the 2nd quarter worth about $387,000. Cetera Investment Advisers lifted its stake in ARM by 42.2% in the second quarter. Cetera Investment Advisers now owns 38,973 shares of the company’s stock worth $6,377,000 after purchasing an additional 11,572 shares during the last quarter. Finally, 3Chopt Investment Partners LLC bought a new stake in shares of ARM during the 2nd quarter worth approximately $922,000. Institutional investors own 7.53% of the company’s stock.

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.