Arm Holdings plc (NASDAQ:ARM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Arm Holdings plc (NASDAQ:ARM) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-six brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $147.95.

Several equities research analysts recently commented on the company. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Barclays lifted their target price on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Susquehanna increased their price target on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Loop Capital increased their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group raised their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Hedge Funds Weigh In On ARM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC bought a new stake in shares of ARM in the 1st quarter worth about $25,000. ORG Partners LLC purchased a new stake in ARM during the third quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new stake in shares of ARM in the 2nd quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares during the period. Finally, RiverPark Advisors LLC increased its position in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Stock Performance

Shares of ARM stock opened at $128.66 on Tuesday. The company has a 50-day simple moving average of $143.67 and a two-hundred day simple moving average of $140.07. The stock has a market capitalization of $134.81 billion, a PE ratio of 214.44, a price-to-earnings-growth ratio of 6.43 and a beta of 5.40. ARM has a 52-week low of $55.27 and a 52-week high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data 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. The company had revenue of $844.00 million during 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 for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. As a group, equities research analysts forecast that ARM will post 0.79 EPS for the current fiscal year.

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.