ARM (NASDAQ:ARM) Trading Up 2.9% – Still a Buy?

Shares of Arm Holdings plc (NASDAQ:ARM) rose 2.9% during trading on Wednesday . The stock traded as high as $155.20 and last traded at $155.09. Approximately 2,480,767 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 11,307,863 shares. The stock had previously closed at $150.67.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ARM. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Morgan Stanley raised shares of ARM from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $107.00 to $190.00 in a research note on Friday, July 19th. Evercore ISI upped their price target on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Citigroup lifted their price objective on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Loop Capital upped their target price on ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $134.91.

ARM Trading Down 1.0 %

The stock’s fifty day simple moving average is $136.38 and its 200-day simple moving average is $134.88. The stock has a market capitalization of $160.35 billion and a PE ratio of 395.50.

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

Institutional Trading of ARM

A number of large investors have recently added to or reduced their stakes in ARM. Mark Sheptoff Financial Planning LLC bought a new position in shares of ARM during the 1st quarter valued at approximately $25,000. ORG Partners LLC purchased a new position in ARM in the third quarter valued at approximately $29,000. Transcendent Capital Group LLC purchased a new position in ARM in the second quarter valued at approximately $33,000. SOA Wealth Advisors LLC. bought a new position in ARM during the first quarter valued at $35,000. Finally, RiverPark Advisors LLC increased its position in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying 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.