ARM (NASDAQ:ARM) Trading Up 0.6% – Should You Buy?

Arm Holdings plc (NASDAQ:ARM) traded up 0.6% during mid-day trading on Thursday . The company traded as high as $148.25 and last traded at $145.20. 3,403,991 shares changed hands during trading, a decline of 37% from the average session volume of 5,403,344 shares. The stock had previously closed at $144.38.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. TD Cowen boosted their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. William Blair started coverage on shares of ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Barclays boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Loop Capital upped their price target 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 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, ARM has a consensus rating of “Moderate Buy” and an average price target of $150.32.

ARM Stock Down 3.2 %

The business’s 50 day simple moving average is $137.36 and its 200-day simple moving average is $142.04. The stock has a market capitalization of $147.21 billion, a price-to-earnings ratio of 234.15, a P/E/G ratio of 7.15 and a beta of 4.53.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARM. Victory Capital Management Inc. acquired a new position in shares of ARM in the 2nd quarter worth approximately $8,782,000. Wedbush Securities Inc. lifted its position in shares of ARM by 4.6% in the 2nd quarter. Wedbush Securities Inc. now owns 3,460 shares of the company’s stock worth $566,000 after purchasing an additional 152 shares during the period. American Century Companies Inc. acquired a new position in shares of ARM in the 2nd quarter worth approximately $5,885,000. Main Street Financial Solutions LLC increased its stake in shares of ARM by 48.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 7,159 shares of the company’s stock valued at $1,171,000 after acquiring an additional 2,346 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of ARM by 258.2% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 58,197 shares of the company’s stock valued at $9,522,000 after acquiring an additional 41,948 shares in the last quarter. Institutional investors and hedge funds 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.