ARM (NASDAQ:ARM) Shares Up 1.7% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price traded up 1.7% during mid-day trading on Wednesday . The stock traded as high as $144.54 and last traded at $142.76. 1,425,974 shares were traded during trading, a decline of 86% from the average session volume of 10,451,744 shares. The stock had previously closed at $140.38.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Daiwa America raised ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Benchmark assumed coverage on ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. The Goldman Sachs Group raised their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Raymond James began coverage on ARM in a report on Friday, September 13th. They set an “outperform” rating and a $160.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Trading Up 2.6 %

The company’s 50-day simple moving average is $142.57 and its 200 day simple moving average is $142.06. The stock has a market cap of $148.24 billion, a P/E ratio of 234.30, a PEG ratio of 7.01 and a beta of 4.67.

ARM (NASDAQ:ARM) last posted 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. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter last year, the firm earned $0.36 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Hedge funds have recently modified their holdings of the stock. ORG Partners LLC bought a new stake in shares of ARM in the 3rd quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new stake in ARM during the 2nd quarter valued at $33,000. Gilliland Jeter Wealth Management LLC raised its holdings in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares during the period. RiverPark Advisors LLC raised its holdings in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the period. Finally, Mather Group LLC. bought a new stake in ARM during the 2nd quarter valued at $41,000. Institutional investors own 7.53% of the company’s stock.

ARM Company Profile

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.