ARM (NASDAQ:ARM) Trading 4% Higher – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price shot up 4% during trading on Thursday . The company traded as high as $129.40 and last traded at $128.25. 1,350,065 shares changed hands during trading, a decline of 87% from the average session volume of 10,053,197 shares. The stock had previously closed at $123.36.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research note on Thursday, October 31st. William Blair assumed coverage on ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Susquehanna lifted their target price on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Finally, Loop Capital lifted 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. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $150.32.

ARM Trading Up 10.0 %

The stock has a 50-day simple moving average of $137.80 and a two-hundred day simple moving average of $142.72. The firm has a market capitalization of $147.83 billion, a P/E ratio of 235.14, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, research analysts expect that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Trading of ARM

A number of hedge funds have recently bought and sold shares of ARM. Hexagon Capital Partners LLC lifted its position in shares of ARM by 14.0% during the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after buying an additional 77 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in ARM by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after acquiring an additional 100 shares in the last quarter. Hobbs Group Advisors LLC grew 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 last quarter. Great Valley Advisor Group Inc. increased its position in shares of ARM by 5.5% during the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after purchasing an additional 102 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC lifted its holdings in shares of ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other 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.