ARM (NASDAQ:ARM) Shares Up 0.7% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shares shot up 0.7% during trading on Tuesday . The stock traded as high as $150.50 and last traded at $146.95. 2,120,678 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 7,108,136 shares. The stock had previously closed at $145.96.

Analyst Upgrades and Downgrades

Several brokerages have commented on ARM. Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays raised their price objective on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Evercore ISI lifted their target price on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Susquehanna lifted their target price on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average target price of $152.09.

ARM Trading Up 2.4 %

The business’s 50 day moving average is $140.34 and its two-hundred day moving average is $140.23. The company has a market cap of $156.62 billion, a PE ratio of 249.12, a PEG ratio of 8.41 and a beta of 4.53.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million for 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%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, equities research analysts predict that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Institutional Trading of ARM

Hedge funds have recently made changes to their positions in the business. Modus Advisors LLC grew its holdings in ARM by 300.2% during the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after purchasing an additional 13,453 shares during the last quarter. KP Management LLC boosted its stake in shares of ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of ARM by 150.1% during the third quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock valued at $928,000 after purchasing an additional 3,893 shares in the last quarter. Willner & Heller LLC boosted its stake in shares of ARM by 193.7% during the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after purchasing an additional 4,484 shares in the last quarter. Finally, Avalon Global Asset Management LLC bought a new position in shares of ARM during the third quarter valued at approximately $8,581,000. 7.53% of the stock is currently owned by hedge funds and other 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.