ARM (NASDAQ:ARM) Trading Up 0.9%

Arm Holdings plc (NASDAQ:ARM) shares rose 0.9% on Monday . The company traded as high as 185.63 and last traded at 182.88. Approximately 4,556,295 shares were traded during trading, a decline of 65% from the average daily volume of 13,150,481 shares. The stock had previously closed at 181.19.

Analysts Set New Price Targets

Several brokerages recently commented on ARM. Wells Fargo & Company boosted their target price on ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Susquehanna reiterated a “neutral” rating and set a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. Evercore ISI lowered their price objective on shares of ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. BNP Paribas cut 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. Finally, Bank of America boosted their price target on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 17th. One investment 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’s stock. According to data from MarketBeat.com, ARM currently has an average rating of “Hold” and an average price target of 103.68.

ARM Price Performance

The stock’s 50 day moving average is 136.58 and its two-hundred day moving average is 116.65.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, topping the consensus estimate of 0.30 by 0.06. The firm had revenue of 928.00 million for the quarter, compared to analysts’ expectations of 865.94 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. The company’s quarterly revenue was up 46.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. On average, equities analysts expect that Arm Holdings plc will post 0.85 EPS for the current year.

Institutional Trading of ARM

Several large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in shares of ARM by 15.7% during the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after purchasing an additional 994,551 shares in the last quarter. Schroder Investment Management Group acquired a new position in ARM in the fourth quarter valued at approximately $480,194,000. Wellington Management Group LLP lifted its holdings in ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after buying an additional 1,611,926 shares during the period. Robeco Schweiz AG lifted its holdings in ARM by 220.3% in the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after buying an additional 1,465,000 shares during the period. Finally, Mubadala Investment Co PJSC acquired a new position in ARM in the fourth quarter valued at approximately $150,437,000. 7.53% of the stock is owned by 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.