Arm Holdings plc (NASDAQ:ARM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Arm Holdings plc (NASDAQ:ARM) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, nineteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $165.23.

ARM has been the subject of several research reports. Susquehanna lifted their price target on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Benchmark reaffirmed a “hold” rating on shares of ARM in a report on Thursday, February 6th. Wells Fargo & Company lifted their price target on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, February 6th. Finally, Evercore ISI lifted their price target on shares of ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, February 6th.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently made changes to their positions in ARM. Apollon Wealth Management LLC raised its position in shares of ARM by 79.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,338 shares of the company’s stock worth $334,000 after buying an additional 1,035 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of ARM by 46.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 31,487 shares of the company’s stock worth $4,503,000 after purchasing an additional 10,047 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of ARM by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 56,421 shares of the company’s stock worth $8,069,000 after purchasing an additional 2,745 shares in the last quarter. OneDigital Investment Advisors LLC bought a new stake in shares of ARM in the 3rd quarter worth approximately $223,000. Finally, CIBC Asset Management Inc raised its holdings in shares of ARM by 9.8% in the 3rd quarter. CIBC Asset Management Inc now owns 20,585 shares of the company’s stock worth $2,944,000 after purchasing an additional 1,840 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Performance

ARM opened at $117.94 on Monday. The company has a 50-day moving average of $145.26 and a 200-day moving average of $141.33. The company has a market capitalization of $123.58 billion, a P/E ratio of 155.19, a PEG ratio of 6.33 and a beta of 4.77. ARM has a 1-year low of $85.61 and a 1-year high of $188.75.

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.