ARM (NASDAQ:ARM) Trading Up 1.6% – Should You Buy?

Arm Holdings plc (NASDAQ:ARM) traded up 1.6% on Tuesday . The stock traded as high as $152.90 and last traded at $152.41. 1,031,589 shares were traded during trading, a decline of 91% from the average session volume of 11,049,564 shares. The stock had previously closed at $150.02.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, August 1st. William Blair assumed coverage on ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Barclays increased their target price on shares of ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of ARM in a research note on Thursday, August 1st. Finally, Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and an average price target of $138.57.

ARM Stock Performance

The stock has a market cap of $148.06 billion and a PE ratio of 367.10. The company’s 50-day moving average price is $140.56 and its two-hundred day moving average price is $136.41.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. Equities research analysts forecast that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Institutional Trading of ARM

A number of hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in ARM by 47.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock worth $115,000 after purchasing an additional 494 shares during the period. Claro Advisors LLC purchased a new position in shares of ARM in the first quarter worth about $201,000. Kovack Advisors Inc. bought a new stake in shares of ARM in the 1st quarter valued at about $492,000. Accel Wealth Management purchased a new stake in ARM during the 1st quarter valued at about $382,000. Finally, Consolidated Portfolio Review Corp bought a new position in ARM during the 1st quarter worth approximately $2,459,000. 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.