ARM (NASDAQ:ARM) Trading 1.3% Higher on Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM) traded up 1.3% during mid-day trading on Monday after KeyCorp raised their price target on the stock from $120.00 to $135.00. KeyCorp currently has an overweight rating on the stock. ARM traded as high as 126.64 and last traded at 126.42. 1,690,661 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 15,360,171 shares. The stock had previously closed at 124.82.

ARM has been the subject of several other research reports. New Street Research restated a “neutral” rating and set a $110.00 price target on shares of ARM in a report on Tuesday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. TD Cowen increased their price target on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. The Goldman Sachs Group boosted their price objective on ARM from $65.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Daiwa Capital Markets cut ARM from a “buy” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of 86.43.

Institutional Investors Weigh In On ARM

A number of hedge funds have recently modified their holdings of ARM. Hoey Investments Inc. purchased a new stake in ARM during the third quarter valued at about $27,000. Armstrong Advisory Group Inc. bought a new position in ARM in the 3rd quarter worth approximately $27,000. Centerpoint Advisors LLC purchased a new position in ARM in the 3rd quarter valued at approximately $32,000. Ancora Advisors LLC purchased a new position in ARM in the 3rd quarter valued at approximately $32,000. Finally, Northwest Financial Advisors bought a new stake in ARM during the 4th quarter valued at $46,000. Institutional investors own 7.53% of the company’s stock.

ARM Trading Down 1.9 %

The firm has a 50-day simple moving average of 123.19 and a 200-day simple moving average of 83.31.

ARM (NASDAQ:ARM) last issued its quarterly earnings data 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 company had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. ARM’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts forecast that Arm Holdings plc will post 0.36 EPS for the current year.

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.