ARM (NASDAQ:ARM) Sees Strong Trading Volume After Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM) shares saw an uptick in trading volume on Wednesday after Susquehanna raised their price target on the stock from $118.00 to $140.00. Susquehanna currently has a neutral rating on the stock. 7,993,540 shares were traded during trading, an increase of 67% from the previous session’s volume of 4,788,344 shares.The stock last traded at $180.52 and had previously closed at $155.20.

Other equities analysts also recently issued research reports about the stock. Loop Capital increased their price target on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. TD Cowen increased their price target on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Evercore ISI increased their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.09.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently made changes to their positions in ARM. Franklin Resources Inc. increased its position in shares of ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after acquiring an additional 228,467 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after acquiring an additional 806,676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares in the last quarter. Mark Asset Management LP increased its position in shares of ARM by 14.2% in the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after acquiring an additional 29,686 shares in the last quarter. Finally, State Street Corp increased its position in shares of ARM by 19.2% in the third quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after acquiring an additional 35,720 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Down 0.4 %

The stock’s 50-day moving average is $139.32 and its 200 day moving average is $141.18. The stock has a market capitalization of $173.86 billion, a PE ratio of 278.04, a P/E/G ratio of 8.41 and a beta of 4.53.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. As a group, equities research analysts forecast that Arm Holdings plc will post 0.84 EPS for the current year.

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.