ARM (NASDAQ:ARM) Shares Up 3.2% – Here’s Why

Shares of Arm Holdings plc (NASDAQ:ARM) were up 3.2% during mid-day trading on Monday . The stock traded as high as $142.24 and last traded at $140.33. Approximately 2,002,332 shares were traded during trading, a decline of 81% from the average daily volume of 10,621,734 shares. The stock had previously closed at $135.99.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ARM. Susquehanna upped their price objective on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company began coverage on ARM in a research note on Friday, November 22nd. They set an “overweight” rating and a $155.00 price target for the company. UBS Group initiated coverage on ARM in a research note on Monday. They issued a “buy” rating and a $160.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Stock Performance

The company’s 50-day moving average price is $143.22 and its two-hundred day moving average price is $141.27. The stock has a market cap of $139.75 billion, a PE ratio of 222.29, a PEG ratio of 6.97 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued its quarterly earnings results 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. The firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company’s 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. Equities research analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of ARM

Several hedge funds and other institutional investors have recently bought and sold shares of the company. RiverPark Advisors LLC boosted its holdings in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of ARM by 14.0% in the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after purchasing an additional 77 shares during the last quarter. BOKF NA increased its stake in shares of ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System raised its holdings in ARM by 1.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after buying an additional 100 shares during the last quarter. Finally, Hobbs Group Advisors LLC boosted its position in ARM by 7.4% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors 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.