ARM (NASDAQ:ARM) Shares Up 3.2%

Arm Holdings plc (NASDAQ:ARM) shares traded up 3.2% during trading on Tuesday . The company traded as high as 169.25 and last traded at 168.71. 1,968,141 shares traded hands during trading, a decline of 85% from the average session volume of 12,765,120 shares. The stock had previously closed at 163.55.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARM. The Goldman Sachs Group lifted their price objective on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of ARM in a research note on Monday, May 6th. KeyCorp raised their price objective on shares of ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Sanford C. Bernstein upped their target price on ARM from $72.00 to $92.00 and gave the stock an “underperform” rating in a research report on Thursday, May 16th. Finally, Bank of America increased their price target on ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus price target of 109.08.

ARM Trading Up 5.2 %

The stock’s 50-day moving average is 148.55 and its 200 day moving average is 122.93.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, beating the consensus estimate of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business had revenue of 928.00 million for the quarter, compared to analysts’ expectations of 865.94 million. During the same period in the previous year, the company posted $0.02 EPS. ARM’s revenue was up 46.6% on a year-over-year basis. As a group, equities analysts anticipate that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC bought a new stake in shares of ARM in the 1st quarter valued at approximately $25,000. SOA Wealth Advisors LLC. bought a new stake in ARM in the first quarter worth approximately $35,000. Mather Group LLC. acquired a new position in shares of ARM during the 2nd quarter worth $41,000. Naples Money Management LLC increased its position in ARM by 47.8% during the first 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. Finally, Northwest Financial Advisors bought a new position in shares of ARM in the 4th quarter valued at approximately $46,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.