ARM (NASDAQ:ARM) Trading 1.2% Higher on Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s share price traded up 1.2% during mid-day trading on Monday after Barclays raised their price target on the stock from $145.00 to $155.00. Barclays currently has an overweight rating on the stock. ARM traded as high as $151.60 and last traded at $149.26. 4,214,684 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 4,336,615 shares. The stock had previously closed at $147.52.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of ARM from $155.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. TD Cowen lifted their price target on ARM from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on ARM from $140.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a report on Thursday, November 7th. Finally, UBS Group assumed coverage on ARM in a report on Monday, November 25th. They set a "buy" rating and a $160.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $151.09.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Partners LLC purchased a new position in ARM during the third quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC boosted its position in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company's stock valued at $37,000 after acquiring an additional 117 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of ARM in the 3rd quarter valued at $52,000. Farther Finance Advisors LLC raised its position in shares of ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company's stock worth $60,000 after acquiring an additional 131 shares in the last quarter. Finally, First Community Trust NA purchased a new stake in shares of ARM during the 3rd quarter worth $70,000. Institutional investors own 7.53% of the company's stock.

ARM Price Performance

The business has a 50-day moving average of $137.37 and a two-hundred day moving average of $141.05. The company has a market cap of $156.40 billion, a P/E ratio of 248.77, a P/E/G ratio of 6.57 and a beta of 4.53.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analysts' expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company's revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Equities analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

ARM Company Profile

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.