ARM (NASDAQ:ARM) Trading 1.3% Higher – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shot up 1.3% during trading on Wednesday . The stock traded as high as $148.25 and last traded at $146.29. 1,582,534 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 5,013,202 shares. The stock had previously closed at $144.38.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ARM shares. 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 note on Thursday, November 7th. Raymond James began coverage on ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target for the company. Loop Capital raised their price objective on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price target on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Price Performance

The stock has a market capitalization of $152.91 billion, a price-to-earnings ratio of 243.22, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53. The company has a 50-day simple moving average of $137.49 and a two-hundred day simple moving average of $142.07.

ARM (NASDAQ:ARM) last issued 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 net margin of 18.13% and a return on equity of 13.69%. The firm 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 firm posted $0.36 EPS. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current year.

Hedge Funds Weigh In On ARM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC raised its stake in ARM by 14.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after acquiring an additional 77 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of ARM by 1.1% during the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after purchasing an additional 100 shares in the last quarter. Hobbs Group Advisors LLC lifted its holdings in ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after purchasing an additional 100 shares during the period. Great Valley Advisor Group Inc. grew its position in ARM by 5.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock valued at $281,000 after buying an additional 102 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC grew its position in ARM by 83.0% in the 3rd 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 in the last quarter. 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.