ARM (NASDAQ:ARM) Stock Price Up 0.7% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) shares shot up 0.7% during mid-day trading on Tuesday . The company traded as high as $142.30 and last traded at $141.30. 884,118 shares were traded during trading, a decline of 92% from the average session volume of 10,477,755 shares. The stock had previously closed at $140.34.

Analyst Ratings Changes

A number of research firms recently issued reports on ARM. Wells Fargo & Company began coverage on ARM in a research report on Friday, November 22nd. They set an “overweight” rating and a $155.00 price objective for the company. Susquehanna lifted their price objective on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Daiwa America raised ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and an average target price of $150.32.

ARM Price Performance

The firm has a market capitalization of $148.06 billion, a P/E ratio of 235.50, a price-to-earnings-growth ratio of 7.01 and a beta of 4.67. The business has a 50 day moving average price of $142.79 and a 200 day moving average price of $142.09.

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

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the period. International Assets Investment Management LLC grew its stake in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares during the period. Sei Investments Co. grew its stake in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares during the period. Finally, Mark Asset Management LP grew its stake in shares of ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after purchasing an additional 29,686 shares during the period. 7.53% of the stock is currently owned by institutional investors.

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.