Arm Holdings plc (NASDAQ:ARM - Get Free Report) shot up 4.6% on Monday . The company traded as high as 93.63 and last traded at 91.23. 7,279,477 shares changed hands during trading, a decline of 51% from the average session volume of 14,813,479 shares. The stock had previously closed at 87.19.
Analyst Ratings Changes
ARM has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of ARM from $80.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, February 8th. Mizuho lifted their price target on shares of ARM from $100.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, March 7th. Susquehanna reissued a "neutral" rating and set a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. Evercore ISI began coverage on ARM in a report on Tuesday, April 16th. They issued an "outperform" rating and a $156.00 price objective for the company. Finally, KeyCorp increased their target price on ARM from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of 90.28.
Read Our Latest Research Report on ARM
ARM Stock Performance
The stock's 50 day simple moving average is 128.44 and its 200 day simple moving average is 86.83.
ARM (NASDAQ:ARM - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.25 by 0.04. The company had revenue of 824.00 million for the quarter, compared to analysts' expectations of 762.50 million. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that Arm Holdings plc will post 0.36 earnings per share for the current fiscal year.
Institutional Trading of ARM
A number of large investors have recently added to or reduced their stakes in the stock. Hoey Investments Inc. bought a new position in shares of ARM during the 3rd quarter worth $27,000. Centerpoint Advisors LLC purchased a new position in ARM during the 3rd quarter valued at about $32,000. Ancora Advisors LLC bought a new stake in shares of ARM during the third quarter valued at about $32,000. SOA Wealth Advisors LLC. purchased a new stake in shares of ARM in the first quarter worth about $35,000. Finally, Bamco Inc. NY bought a new position in shares of ARM in the third quarter worth $37,000. Hedge funds and other institutional investors own 7.53% of the company's stock.
About ARM
(
Get Free Report)
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.
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