ARM (NASDAQ:ARM) Sees Strong Trading Volume Following Analyst Upgrade

Arm Holdings plc (NASDAQ:ARM) saw unusually-high trading volume on Wednesday after Susquehanna raised their price target on the stock from $118.00 to $140.00. Susquehanna currently has a neutral rating on the stock. Approximately 7,993,540 shares traded hands during trading, an increase of 67% from the previous session’s volume of 4,788,344 shares.The stock last traded at $180.52 and had previously closed at $155.20.

Several other brokerages have also commented on ARM. Evercore ISI boosted their target price on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, November 7th. Wells Fargo & Company upped their price objective on shares of ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their price target on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, TD Cowen upped their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.09.

Institutional Trading of ARM

Institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Partners LLC bought a new position in shares of ARM during the third quarter worth about $29,000. Gilliland Jeter Wealth Management LLC raised its holdings in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. Quantbot Technologies LP bought a new position in ARM during the third quarter valued at about $52,000. Berbice Capital Management LLC bought a new position in shares of ARM during the 4th quarter valued at about $49,000. Finally, Farther Finance Advisors LLC grew its position in ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after buying an additional 131 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Stock Down 7.4 %

The company has a market capitalization of $174.53 billion, a price-to-earnings ratio of 277.60, a price-to-earnings-growth ratio of 8.41 and a beta of 4.53. The business has a 50-day moving average price of $139.32 and a 200-day moving average price of $141.18.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. As a group, sell-side analysts predict that Arm Holdings plc will post 0.84 EPS for the current year.

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.