ARM (NASDAQ:ARM) Trading 5.4% Higher – Should You Buy?

Arm Holdings plc (NASDAQ:ARM)’s share price traded up 5.4% during trading on Monday . The company traded as high as $160.15 and last traded at $159.59. 3,561,035 shares changed hands during trading, a decline of 69% from the average session volume of 11,335,448 shares. The stock had previously closed at $151.46.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup lifted their target price on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays upped their price objective on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI lifted their price objective on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.91.

ARM Stock Up 7.1 %

The company has a market capitalization of $169.92 billion and a P/E ratio of 413.29. The company’s fifty day moving average price is $132.98 and its 200 day moving average price is $134.17.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. Research analysts predict that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Institutional Trading of ARM

Several large investors have recently made changes to their positions in ARM. Lazard Asset Management LLC increased its position in ARM by 393.0% during the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after purchasing an additional 20,117 shares in the last quarter. Willner & Heller LLC increased its holdings in ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after purchasing an additional 4,484 shares in the last quarter. Mizuho Securities Co. Ltd. raised its position in ARM by 156.3% in the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after purchasing an additional 11,220 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of ARM during the second quarter worth about $4,090,000. Finally, Rheos Capital Works Inc. increased its stake in shares of ARM by 48.1% in the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after buying an additional 83,400 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.