ARM (NASDAQ:ARM) Shares Up 1.6% – What’s Next?

Shares of Arm Holdings plc (NASDAQ:ARM) were up 1.6% during trading on Monday . The stock traded as high as $121.31 and last traded at $119.88. Approximately 1,004,979 shares were traded during trading, a decline of 87% from the average daily volume of 7,640,773 shares. The stock had previously closed at $117.94.

Analyst Ratings Changes

Several analysts have commented on ARM shares. Rosenblatt Securities raised their target price on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Raymond James raised their target price on shares of ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. The Goldman Sachs Group raised their target price on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Susquehanna raised their target price on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their target price on shares of ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.23.

ARM Price Performance

The stock has a market capitalization of $125.45 billion, a P/E ratio of 157.53, a PEG ratio of 6.33 and a beta of 4.77. The stock’s 50-day simple moving average is $144.25 and its 200 day simple moving average is $141.16.

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently modified their holdings of the stock. Centaurus Financial Inc. increased its holdings in shares of ARM by 77.4% in the fourth quarter. Centaurus Financial Inc. now owns 7,384 shares of the company’s stock valued at $911,000 after purchasing an additional 3,222 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of ARM by 2.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 4,929 shares of the company’s stock valued at $608,000 after purchasing an additional 96 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of ARM by 119.1% in the fourth quarter. Toronto Dominion Bank now owns 3,893 shares of the company’s stock valued at $480,000 after purchasing an additional 2,116 shares during the last quarter. Warm Springs Advisors Inc. acquired a new position in shares of ARM in the fourth quarter valued at $1,851,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of ARM in the fourth quarter valued at $2,995,000. 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.