ARM (NASDAQ:ARM) Trading Up 4% – Time to Buy?

Arm Holdings plc (NASDAQ:ARM)’s share price was up 4% during trading on Monday . The stock traded as high as $148.70 and last traded at $146.68. Approximately 2,803,899 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 4,473,151 shares. The stock had previously closed at $141.08.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Susquehanna lifted their target price on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI increased their target price on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Loop Capital upped their price objective on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.32.

ARM Stock Up 0.6 %

The firm has a 50-day simple moving average of $137.49 and a 200-day simple moving average of $142.07. The stock has a market cap of $152.15 billion, a PE ratio of 242.00, a P/E/G ratio of 7.15 and a beta of 4.53.

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

Institutional Trading of ARM

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in shares of ARM by 14.0% during the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after purchasing an additional 77 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in ARM by 1.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after buying an additional 100 shares in the last quarter. Hobbs Group Advisors LLC increased its holdings in shares of ARM by 7.4% in the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after buying an additional 100 shares during the last quarter. Great Valley Advisor Group Inc. raised its position in shares of ARM by 5.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock valued at $281,000 after buying an additional 102 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC grew its position in ARM by 83.0% in the third 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. Institutional investors own 7.53% of the company’s stock.

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.