ARM (NASDAQ:ARM) Trading 3.2% Higher

Arm Holdings plc (NASDAQ:ARM - Get Free Report) shares were up 3.2% during trading on Wednesday . The stock traded as high as 103.75 and last traded at 99.15. Approximately 5,626,266 shares were traded during trading, a decline of 62% from the average daily volume of 14,752,999 shares. The stock had previously closed at 96.04.

Wall Street Analyst Weigh In

Several analysts have recently commented on ARM shares. Susquehanna reissued a "neutral" rating and set a $85.00 price target on shares of ARM in a research note on Thursday, April 4th. KeyCorp increased their price target on shares of ARM from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, April 8th. TD Cowen increased their price target on shares of ARM from $80.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, February 8th. Daiwa Capital Markets cut shares of ARM from a "buy" rating to a "neutral" rating and increased their price target for the company from $63.00 to $130.00 in a research note on Friday, February 16th. Finally, BNP Paribas cut shares of ARM from an "outperform" rating to a "neutral" rating and set a $100.00 price target on the stock. in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of 90.28.

ARM Stock Up 4.0 %

The company's fifty day simple moving average is 126.31 and its two-hundred day simple moving average is 87.50.

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

Institutional Investors Weigh In On ARM

A number of hedge funds and other institutional investors have recently made changes to their positions in ARM. Hsbc Holdings PLC bought a new position in ARM in the third quarter valued at $219,000. Robeco Schweiz AG bought a new position in ARM in the third quarter valued at $35,591,000. American Century Companies Inc. bought a new position in ARM in the third quarter valued at $54,800,000. Citigroup Inc. bought a new position in ARM in the third quarter valued at $344,000. Finally, UG Investment Advisers Ltd. bought a new position in ARM in the third quarter valued at $3,568,000. 7.53% of the stock is currently 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.