ARM (NASDAQ:ARM) Trading 0.6% Higher – What’s Next?

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

Wall Street Analyst Weigh In

ARM has been the subject of several recent analyst reports. Barclays raised their target price on ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price target on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, November 7th. Wells Fargo & Company began coverage on shares of ARM in a report on Friday, November 22nd. They issued an “overweight” rating and a $155.00 target price on the stock. Finally, Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Stock Performance

The stock’s 50-day simple moving average is $137.30 and its two-hundred day simple moving average is $142.09. The stock has a market cap of $152.15 billion, a price-to-earnings ratio of 242.00, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping 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 company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. 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 added to or reduced their stakes in ARM. ORG Partners LLC acquired a new position in shares of ARM during the third quarter worth approximately $29,000. Gilliland Jeter Wealth Management LLC lifted its holdings in ARM by 83.0% in 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. Alta Advisers Ltd acquired a new position in ARM in the second quarter valued at approximately $49,000. Quantbot Technologies LP acquired a new position in ARM in the third quarter valued at approximately $52,000. Finally, Farther Finance Advisors LLC lifted its holdings in ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after buying an additional 131 shares during the period. 7.53% of the stock is owned by institutional investors.

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.