ARM (NASDAQ:ARM) Trading Up 3.4% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price rose 3.4% during trading on Wednesday . The stock traded as high as $141.48 and last traded at $141.34. Approximately 994,808 shares traded hands during trading, a decline of 84% from the average daily volume of 6,411,283 shares. The stock had previously closed at $136.70.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ARM shares. Jefferies Financial Group upped 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. Raymond James increased their price objective on shares of ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Rosenblatt Securities lifted their target price on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their price target on shares of ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of ARM in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.83.

ARM Stock Up 1.8 %

The stock has a market capitalization of $145.77 billion, a P/E ratio of 183.72, a PEG ratio of 6.33 and a beta of 4.56. The firm has a 50-day moving average of $147.43 and a 200 day moving average of $141.95.

Institutional Trading of ARM

Several hedge funds have recently bought and sold shares of ARM. Tufton Capital Management grew its stake in ARM by 1.5% in the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock valued at $546,000 after buying an additional 65 shares during the last quarter. Valley National Advisers Inc. boosted its stake in shares of ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after purchasing an additional 72 shares in the last quarter. Zullo Investment Group Inc. increased its stake in shares of ARM by 4.6% in the fourth quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after buying an additional 85 shares during the period. GeoWealth Management LLC raised its position in shares of ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after acquiring an additional 92 shares in the last quarter. Finally, Cibc World Markets Corp boosted its position in shares of ARM by 3.5% during the 4th quarter. Cibc World Markets Corp now owns 2,838 shares of the company’s stock worth $350,000 after purchasing an additional 96 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.