ARM (NASDAQ:ARM) Trading Up 4.7% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shares rose 4.7% during mid-day trading on Wednesday . The stock traded as high as $147.25 and last traded at $146.60. Approximately 1,762,791 shares were traded during trading, a decline of 59% from the average daily volume of 4,249,685 shares. The stock had previously closed at $140.06.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ARM. Barclays increased their price objective on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday. UBS Group assumed coverage on shares of ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.09.

ARM Trading Up 1.2 %

The stock has a fifty day moving average price of $137.33 and a 200-day moving average price of $141.46. The firm has a market capitalization of $156.40 billion, a price-to-earnings ratio of 248.77, a PEG ratio of 6.57 and a beta of 4.53.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. On average, equities analysts expect that Arm Holdings plc will post 0.84 EPS for the current year.

Institutional Investors Weigh In On ARM

A number of hedge funds have recently added to or reduced their stakes in ARM. ORG Partners LLC acquired a new position in ARM during the 3rd quarter worth $29,000. Gilliland Jeter Wealth Management LLC raised 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 worth $37,000 after acquiring an additional 117 shares during the last quarter. Quantbot Technologies LP bought a new position in ARM in the third quarter valued at about $52,000. Farther Finance Advisors LLC increased its position in ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares during the period. Finally, First Community Trust NA acquired a new stake in shares of ARM during the third quarter worth $70,000. 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.