ARM (NASDAQ:ARM) Shares Up 4.9% on Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM)’s stock price shot up 4.9% during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $150.00 to $180.00. Bank of America currently has a buy rating on the stock. ARM traded as high as 170.35 and last traded at 168.15. 7,852,524 shares were traded during trading, a decline of 41% from the average session volume of 13,249,001 shares. The stock had previously closed at 160.29.

Several other research firms also recently issued reports on ARM. The Goldman Sachs Group upped their price objective on ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Mizuho upped their price target on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. BNP Paribas lowered shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a report on Friday, April 19th. KeyCorp increased their price objective on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Sanford C. Bernstein lifted their target price on ARM from $72.00 to $92.00 and gave the stock an “underperform” rating in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of 99.48.

Institutional Trading of ARM

Several institutional investors have recently made changes to their positions in ARM. Mark Sheptoff Financial Planning LLC purchased a new position in shares of ARM in the 1st quarter worth approximately $25,000. SOA Wealth Advisors LLC. purchased a new position in shares of ARM in the 1st quarter worth approximately $35,000. Naples Money Management LLC boosted its stake in shares of ARM by 47.8% in the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after buying an additional 110 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of ARM in the 1st quarter worth approximately $50,000. Finally, BOKF NA boosted its stake in shares of ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after buying an additional 100 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Stock Up 4.9 %

The business has a 50 day moving average price of 117.86 and a two-hundred day moving average price of 105.27.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. ARM had a return on equity of 16.94% and a net margin of 9.46%. The firm had revenue of 928.00 million for the quarter, compared to the consensus estimate of 865.94 million. During the same quarter in the previous year, the business earned $0.02 EPS. The company’s revenue was up 46.6% compared to the same quarter last year. As a group, research analysts forecast that Arm Holdings plc will post 0.85 earnings per share for the current fiscal 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.