ARM (NASDAQ:ARM) Trading Up 0.9% After Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM) shares shot up 0.9% during trading on Tuesday after Loop Capital raised their price target on the stock from $180.00 to $195.00. Loop Capital currently has a buy rating on the stock. ARM traded as high as $163.11 and last traded at $162.22. 1,245,851 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 6,846,593 shares. The stock had previously closed at $160.84.

A number of other equities analysts have also recently commented on ARM. Mizuho lifted their price target on ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Jefferies Financial Group lifted their target price on shares of ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. TD Cowen upped their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of ARM in a report on Thursday, February 6th. Finally, Rosenblatt Securities upped their price objective on shares of ARM from $180.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.83.

Hedge Funds Weigh In On ARM

Several large investors have recently made changes to their positions in ARM. ORG Partners LLC bought a new position in ARM during the 3rd quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC grew its stake in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of ARM during the third quarter valued at $52,000. Berbice Capital Management LLC purchased a new position in shares of ARM in the 4th quarter worth about $49,000. Finally, Farther Finance Advisors LLC boosted its stake in 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 purchasing an additional 131 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Performance

The company has a market capitalization of $162.84 billion, a PE ratio of 204.49, a P/E/G ratio of 7.83 and a beta of 4.57. The company’s 50-day moving average is $145.45 and its 200 day moving average is $139.79.

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.