ARM (NASDAQ:ARM) Trading Up 3.3%

Arm Holdings plc (NASDAQ:ARM) shot up 3.3% during mid-day trading on Friday . The stock traded as high as 102.30 and last traded at 101.15. 2,762,799 shares changed hands during trading, a decline of 81% from the average session volume of 14,576,279 shares. The stock had previously closed at 97.93.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ARM shares. Susquehanna reaffirmed a “neutral” rating and set a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. BNP Paribas cut ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research note on Friday, April 19th. The Goldman Sachs Group boosted their target price on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Daiwa Capital Markets downgraded shares of ARM from a “buy” rating to a “neutral” rating and upped their target price for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of 90.28.

ARM Trading Up 4.1 %

The firm’s fifty day moving average price is 125.59 and its two-hundred day moving average price is 87.57.

ARM (NASDAQ:ARM) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of 762.50 million. ARM’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that Arm Holdings plc will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently modified their holdings of the company. SOA Wealth Advisors LLC. bought a new stake in shares of ARM during the first quarter valued at approximately $35,000. Hoey Investments Inc. bought a new stake in ARM in the 3rd quarter valued at $27,000. Centerpoint Advisors LLC purchased a new stake in ARM in the 3rd quarter worth $32,000. Ancora Advisors LLC bought a new position in shares of ARM during the 3rd quarter valued at about $32,000. Finally, Northwest Financial Advisors purchased a new position in shares of ARM during the fourth quarter valued at about $46,000. 7.53% of the stock is currently owned by institutional investors.

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.