ARM (NASDAQ:ARM) Shares Up 4% – Time to Buy?

Arm Holdings plc (NASDAQ:ARM) was up 4% on Monday . The company traded as high as $148.70 and last traded at $146.68. Approximately 2,803,899 shares traded hands during trading, a decline of 37% from the average daily volume of 4,473,151 shares. The stock had previously closed at $141.08.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen upped their target price on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group began coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays upped their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company started coverage on ARM in a report on Friday, November 22nd. They issued an “overweight” rating and a $155.00 price objective on the stock. Two 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Price Performance

The company has a 50 day moving average of $137.49 and a two-hundred day moving average of $142.07. The company has a market capitalization of $152.15 billion, a PE ratio of 242.00, a PEG ratio of 7.15 and a beta of 4.53.

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

Institutional Trading of ARM

Hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC raised its position in shares of ARM by 14.0% in the 3rd 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. Louisiana State Employees Retirement System grew its position in shares of ARM by 1.1% during the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after purchasing an additional 100 shares in the last quarter. Hobbs Group Advisors LLC increased its holdings in shares of 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. boosted its stake in ARM by 5.5% during the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock valued at $281,000 after buying an additional 102 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC grew its holdings in 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 buying an additional 117 shares in the last quarter. 7.53% of the stock is owned by institutional investors.

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.