ARM (NASDAQ:ARM) Shares Up 1.9% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price traded up 1.9% on Tuesday . The stock traded as high as $131.32 and last traded at $131.07. 1,066,155 shares changed hands during trading, a decline of 90% from the average session volume of 10,738,377 shares. The stock had previously closed at $128.66.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARM. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price objective on shares of ARM in a research note on Thursday, August 1st. Barclays increased their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. TD Cowen boosted their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Susquehanna raised their target price on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research note on Thursday, August 8th. Two investment 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.95.

ARM Trading Up 0.5 %

The firm has a 50-day moving average of $143.65 and a two-hundred day moving average of $140.25. The firm has a market capitalization of $140.09 billion, a P/E ratio of 222.84, a P/E/G ratio of 6.64 and a beta of 5.40.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Trading of ARM

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blair William & Co. IL acquired a new stake in ARM in the first quarter valued at $302,000. Acadian Asset Management LLC raised its position in shares of ARM by 606.7% during the first quarter. Acadian Asset Management LLC now owns 24,524 shares of the company’s stock worth $3,058,000 after acquiring an additional 21,054 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of ARM in the first quarter worth approximately $50,000. CreativeOne Wealth LLC bought a new stake in ARM in the first quarter valued at approximately $267,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in ARM during the 1st quarter valued at approximately $789,000. 7.53% of the stock is currently owned by institutional investors.

About ARM

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.