ARM (NASDAQ:ARM) Trading Up 5.1% – Still a Buy?

Arm Holdings plc (NASDAQ:ARM)’s share price rose 5.1% during trading on Friday . The company traded as high as $135.23 and last traded at $134.78. Approximately 1,963,837 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 2,703,700 shares. The stock had previously closed at $128.20.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. William Blair initiated coverage on ARM in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target on the stock. in a research report on Thursday, October 31st. Barclays raised their price objective on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company started coverage on shares of ARM in a research report on Friday, November 22nd. They set an “overweight” rating and a $155.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Stock Up 7.5 %

The company has a fifty day moving average price of $137.85 and a 200 day moving average price of $142.85. The stock has a market cap of $144.40 billion, a PE ratio of 229.69, a P/E/G ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share 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 during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current year.

Institutional Trading of ARM

Several large investors have recently modified their holdings of ARM. ORG Partners LLC bought a new stake in ARM in the third quarter valued at $29,000. Gilliland Jeter Wealth Management LLC increased its position in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares during the period. Larson Financial Group LLC bought a new position in ARM in the second quarter worth about $47,000. Alta Advisers Ltd bought a new position in ARM in the second quarter worth about $49,000. Finally, Quantbot Technologies LP purchased a new stake in ARM in the third quarter worth about $52,000. 7.53% of the stock is 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.