ARM (NASDAQ:ARM) Shares Up 5.5% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) traded up 5.5% during trading on Friday . The stock traded as high as $161.81 and last traded at $161.61. 2,265,959 shares were traded during mid-day trading, a decline of 66% from the average session volume of 6,679,013 shares. The stock had previously closed at $153.23.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ARM. Evercore ISI upped their price target on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Susquehanna lifted their price target on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. TD Cowen increased their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $152.09.

ARM Trading Up 4.6 %

The firm has a 50 day moving average of $141.35 and a two-hundred day moving average of $140.15. The stock has a market capitalization of $168.01 billion, a PE ratio of 265.75, a P/E/G ratio of 6.90 and a beta of 4.53.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 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 business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Arm Holdings plc will post 0.84 EPS for the current year.

Institutional Trading of ARM

A number of large investors have recently made changes to their positions in the stock. ORG Partners LLC purchased a new position in ARM during the third quarter worth about $29,000. Gilliland Jeter Wealth Management LLC boosted its position in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the last quarter. Berbice Capital Management LLC acquired a new position in ARM during the fourth quarter worth approximately $49,000. Quantbot Technologies LP acquired a new stake in shares of ARM during the 3rd quarter worth $52,000. Finally, Farther Finance Advisors LLC boosted its holdings in ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares during the period. Institutional investors and hedge funds 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.