ARM (NASDAQ:ARM) Trading Up 0.9%

Arm Holdings plc (NASDAQ:ARM) shares were up 0.9% during mid-day trading on Monday . The stock traded as high as 185.63 and last traded at 182.88. Approximately 4,556,295 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 13,150,481 shares. The stock had previously closed at 181.19.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ARM shares. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, May 9th. KeyCorp upped their price target on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Evercore ISI reduced their price target on ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Susquehanna reaffirmed a “neutral” rating and set a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. Finally, The Goldman Sachs Group upped their price target on ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of 103.68.

ARM Price Performance

The firm has a 50 day moving average of 136.58 and a two-hundred day moving average of 116.65.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, beating the consensus estimate of 0.30 by 0.06. The business had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. ARM’s revenue was up 46.6% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. Equities analysts predict that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Institutional Trading of ARM

A number of hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group bought a new position in shares of ARM during the fourth quarter worth about $480,194,000. Wellington Management Group LLP bought a new position in shares of ARM during the third quarter worth about $152,896,000. Mubadala Investment Co PJSC bought a new position in shares of ARM during the fourth quarter worth about $150,437,000. Robeco Schweiz AG raised its position in shares of ARM by 220.3% during the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after acquiring an additional 1,465,000 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in shares of ARM during the third quarter worth about $54,800,000. 7.53% of the stock is 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.