ARM (NASDAQ:ARM) Trading 0.9% Higher on Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM) shares traded up 0.9% on Tuesday after Loop Capital raised their price target on the stock from $180.00 to $195.00. Loop Capital currently has a buy rating on the stock. ARM traded as high as $163.11 and last traded at $162.22. 1,245,851 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 6,846,593 shares. The stock had previously closed at $160.84.

Other research analysts have also issued reports about the stock. Wells Fargo & Company raised their price target on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. TD Cowen lifted their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group upped their target price on ARM from $170.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, February 6th. UBS Group began coverage on ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price target for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average target price of $162.83.

Institutional Investors Weigh In On ARM

Several hedge funds have recently bought and sold shares of ARM. Brookstone Capital Management raised its position in ARM by 12.4% during the third quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after purchasing an additional 156 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of ARM by 23.2% during the 3rd quarter. Ritholtz Wealth Management now owns 2,764 shares of the company’s stock valued at $395,000 after purchasing an additional 520 shares during the last quarter. Concourse Financial Group Securities Inc. raised its holdings in shares of ARM by 10.0% during the 3rd quarter. Concourse Financial Group Securities Inc. now owns 2,890 shares of the company’s stock valued at $413,000 after buying an additional 263 shares in the last quarter. ORG Partners LLC bought a new stake in ARM in the 3rd quarter worth approximately $29,000. Finally, Wesbanco Bank Inc. purchased a new stake in ARM in the third quarter worth approximately $543,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Down 1.5 %

The firm has a market capitalization of $162.84 billion, a P/E ratio of 204.49, a PEG ratio of 7.83 and a beta of 4.57. The business’s 50-day simple moving average is $145.45 and its 200 day simple moving average is $139.79.

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.