ARM (NASDAQ:ARM) Trading Up 1.3% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM) was up 1.3% on Thursday . The stock traded as high as $138.79 and last traded at $136.81. Approximately 1,611,963 shares traded hands during trading, a decline of 85% from the average daily volume of 10,807,219 shares. The stock had previously closed at $135.09.

Analyst Upgrades and Downgrades

ARM has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Susquehanna upped their price target on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Benchmark initiated coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $147.95.

ARM Stock Down 5.6 %

The company has a market cap of $134.89 billion, a PE ratio of 214.55, a price-to-earnings-growth ratio of 6.75 and a beta of 5.40. The business’s 50 day moving average price is $143.60 and its 200-day moving average price is $139.28.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Equities analysts expect that Arm Holdings plc will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARM. Mark Sheptoff Financial Planning LLC purchased a new position in shares of ARM during the 1st quarter valued at approximately $25,000. ORG Partners LLC acquired a new stake in ARM in the third quarter valued at $29,000. Transcendent Capital Group LLC bought a new position in ARM during the 2nd quarter valued at $33,000. Gilliland Jeter Wealth Management LLC grew 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 worth $37,000 after acquiring an additional 117 shares in the last quarter. Finally, RiverPark Advisors LLC increased its position in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other 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.