ARM (NASDAQ:ARM) Trading Up 5.4% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shot up 5.4% during trading on Monday . The company traded as high as $160.15 and last traded at $159.59. 3,561,035 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 11,335,448 shares. The stock had previously closed at $151.46.

Analysts Set New Price Targets

ARM has been the subject of several research reports. Sanford C. Bernstein raised ARM from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $92.00 to $100.00 in a research report on Wednesday, August 7th. Evercore ISI lifted their target price on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Bank of America increased their price target on shares of ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $107.00 to $190.00 in a report on Friday, July 19th. Finally, Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.91.

ARM Trading Up 7.1 %

The firm’s 50 day moving average price is $132.98 and its 200-day moving average price is $134.17. The company has a market cap of $169.92 billion and a P/E ratio of 413.29.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. Analysts predict that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of ARM by 56.4% during the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after purchasing an additional 1,611,926 shares in the last quarter. Sei Investments Co. raised its position in ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares during the last quarter. State of Michigan Retirement System bought a new stake in ARM in the 1st quarter valued at approximately $28,523,000. Marsico Capital Management LLC bought a new position in shares of ARM during the 2nd quarter worth approximately $33,207,000. Finally, Zevenbergen Capital Investments LLC acquired a new stake in shares of ARM in the first quarter valued at approximately $23,704,000. 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.