ARM (NASDAQ:ARM) Shares Up 4.6%

Arm Holdings plc (NASDAQ:ARM) traded up 4.6% during trading on Monday . The company traded as high as 93.63 and last traded at 91.23. 7,279,477 shares changed hands during trading, a decline of 51% from the average session volume of 14,813,479 shares. The stock had previously closed at 87.19.

Analysts Set New Price Targets

ARM has been the subject of several recent analyst reports. KeyCorp boosted their price objective on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Daiwa Capital Markets lowered shares of ARM from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their price objective on shares of ARM from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Susquehanna restated a “neutral” rating and set a $85.00 price target on shares of ARM in a research note on Thursday, April 4th. Finally, BNP Paribas downgraded shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, ARM presently has an average rating of “Hold” and an average price target of 90.28.

ARM Stock Performance

The company’s 50-day moving average is 126.84 and its 200-day moving average is 87.41.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 13.8% compared to the same quarter last year. Analysts predict that Arm Holdings plc will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARM. Schroder Investment Management Group purchased a new position in shares of ARM in the fourth quarter valued at approximately $480,194,000. Jennison Associates LLC purchased a new position in ARM in the third quarter worth approximately $339,965,000. FMR LLC purchased a new position in ARM in the third quarter worth approximately $242,812,000. Wellington Management Group LLP purchased a new position in ARM in the third quarter worth approximately $152,896,000. Finally, Invesco Ltd. purchased a new position in ARM in the third quarter worth approximately $143,092,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.