ARM (NASDAQ:ARM) Trading Up 3.4% – Still a Buy?

Arm Holdings plc (NASDAQ:ARM)’s stock price was up 3.4% during mid-day trading on Monday . The stock traded as high as $139.37 and last traded at $138.91. Approximately 1,376,984 shares changed hands during trading, a decline of 87% from the average daily volume of 10,500,966 shares. The stock had previously closed at $134.29.

Analyst Upgrades and Downgrades

ARM has been the topic of several research analyst reports. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research report on Thursday, August 8th. Susquehanna boosted their price objective on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research report on Thursday, October 31st. Evercore ISI boosted their price objective on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays boosted their price objective on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Two investment 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. According to MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $150.32.

ARM Trading Up 0.7 %

The stock has a market capitalization of $148.06 billion, a PE ratio of 237.94, a PEG ratio of 7.01 and a beta of 4.67. The business has a fifty day moving average price of $142.90 and a 200-day moving average price of $142.09.

ARM (NASDAQ:ARM) last issued its earnings results 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. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 EPS. On average, equities analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Several institutional investors have recently bought and sold shares of ARM. Franklin Resources Inc. lifted its holdings in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after buying an additional 228,467 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in ARM in the 3rd quarter worth approximately $419,000. Virtu Financial LLC purchased a new stake in ARM in the 3rd quarter worth approximately $1,163,000. Hobbs Group Advisors LLC lifted its holdings in ARM by 7.4% in the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after buying an additional 100 shares during the period. Finally, Fortem Financial Group LLC lifted its holdings in ARM by 6.4% in the 3rd quarter. Fortem Financial Group LLC now owns 7,200 shares of the company’s stock worth $1,030,000 after buying an additional 430 shares during the period. 7.53% of the stock is currently owned by hedge funds and other 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.