ARM (NASDAQ:ARM) Trading 3.8% Higher

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s share price shot up 3.8% on Tuesday . The stock traded as high as 98.37 and last traded at 96.62. 5,694,717 shares traded hands during trading, a decline of 61% from the average session volume of 14,790,378 shares. The stock had previously closed at 93.11.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Mizuho upped their price objective on shares of ARM from $100.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. New Street Research reiterated a "neutral" rating and issued a $110.00 price objective on shares of ARM in a report on Tuesday, February 27th. TD Cowen increased their target price on ARM from $80.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday, February 8th. Evercore ISI began coverage on ARM in a research report on Tuesday, April 16th. They issued an "outperform" rating and a $156.00 target price for the company. Finally, Susquehanna reiterated a "neutral" rating and set a $85.00 price target on shares of ARM in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of 90.28.

ARM Stock Up 3.1 %

The stock has a fifty day moving average price of 126.84 and a 200-day moving average price of 87.41.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million for the quarter, compared to analyst estimates of 762.50 million. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Arm Holdings plc will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in ARM in the third quarter valued at $219,000. Robeco Schweiz AG acquired a new stake in ARM in the 3rd quarter valued at about $35,591,000. American Century Companies Inc. acquired a new stake in ARM in the 3rd quarter valued at about $54,800,000. Citigroup Inc. purchased a new position in ARM during the 3rd quarter valued at about $344,000. Finally, UG Investment Advisers Ltd. acquired a new position in ARM during the third quarter worth about $3,568,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.