ARM (NASDAQ:ARM) Shares Up 1.3% - Here's What Happened

Arm Holdings plc (NASDAQ:ARM - Get Free Report) traded up 1.3% during mid-day trading on Tuesday . The company traded as high as $141.30 and last traded at $139.34. 1,348,664 shares traded hands during trading, a decline of 88% from the average session volume of 10,907,429 shares. The stock had previously closed at $137.53.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup lifted their target price on ARM from $150.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. William Blair initiated coverage on ARM in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $180.00 price target on shares of ARM in a research note on Thursday, August 1st. Loop Capital lifted their price target on ARM from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on ARM from $82.00 to $105.00 and gave the stock a "hold" rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ARM presently has an average rating of "Moderate Buy" and a consensus target price of $138.57.

ARM Price Performance

The company has a market cap of $147.38 billion, a P/E ratio of 360.65, a PEG ratio of 6.45 and a beta of 5.40. The company has a fifty day simple moving average of $141.27 and a 200-day simple moving average of $137.49.

Institutional Trading of ARM

Several large investors have recently added to or reduced their stakes in ARM. Mark Sheptoff Financial Planning LLC purchased a new position in shares of ARM during the 1st quarter valued at $25,000. ORG Partners LLC bought a new stake in ARM in the third quarter worth $29,000. Transcendent Capital Group LLC bought a new stake in ARM in the second quarter worth $33,000. Gilliland Jeter Wealth Management LLC boosted its holdings in ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company's stock worth $37,000 after purchasing an additional 117 shares in the last quarter. Finally, RiverPark Advisors LLC boosted its holdings in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company's stock worth $40,000 after purchasing an additional 77 shares in the last quarter. 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.