ARM (NASDAQ:ARM) Trading 0.7% Higher – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s share price traded up 0.7% during mid-day trading on Tuesday . The stock traded as high as $150.50 and last traded at $146.95. 2,120,678 shares traded hands during trading, a decline of 70% from the average session volume of 7,108,136 shares. The stock had previously closed at $145.96.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ARM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target on the stock. in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price target on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI increased their target price on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Loop Capital lifted their price target on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $152.09.

ARM Price Performance

The stock’s fifty day moving average is $140.94 and its 200-day moving average is $140.06. The stock has a market cap of $160.56 billion, a PE ratio of 255.39, a price-to-earnings-growth ratio of 8.41 and a beta of 4.53.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) 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 company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Several hedge funds have recently made changes to their positions in the business. Creative Planning grew its holdings in ARM by 438.5% in the second quarter. Creative Planning now owns 31,601 shares of the company’s stock valued at $5,171,000 after purchasing an additional 25,733 shares during the last quarter. NewEdge Advisors LLC grew its holdings in ARM by 54.1% in the second quarter. NewEdge Advisors LLC now owns 34,386 shares of the company’s stock valued at $5,626,000 after purchasing an additional 12,078 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of ARM by 810.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 26,672 shares of the company’s stock valued at $4,364,000 after buying an additional 23,741 shares during the period. Sunbelt Securities Inc. boosted its holdings in ARM by 36.3% in the second quarter. Sunbelt Securities Inc. now owns 1,840 shares of the company’s stock valued at $301,000 after acquiring an additional 490 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in ARM during the second quarter valued at about $736,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.