ARM (NASDAQ:ARM) Trading Up 3% – Time to Buy?

Arm Holdings plc (NASDAQ:ARM) shares were up 3% on Thursday . The stock traded as high as $153.57 and last traded at $152.00. Approximately 1,638,252 shares traded hands during trading, a decline of 76% from the average daily volume of 6,769,338 shares. The stock had previously closed at $147.60.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Loop Capital upped their target price on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, November 7th. TD Cowen raised their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and an average price target of $152.09.

ARM Price Performance

The stock has a market capitalization of $160.56 billion, a PE ratio of 255.39, a P/E/G ratio of 8.41 and a beta of 4.53. The business’s fifty day moving average price is $140.94 and its 200-day moving average price is $140.06.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 earnings per share. On average, analysts expect that Arm Holdings plc will post 0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Valley National Advisers Inc. boosted its holdings in shares of ARM by 13.3% during the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after buying an additional 72 shares in the last quarter. Hexagon Capital Partners LLC boosted 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 in the last quarter. Gladstone Institutional Advisory LLC increased its position in ARM by 3.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company’s stock valued at $409,000 after buying an additional 98 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of ARM by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after acquiring an additional 100 shares during the last quarter. Finally, Hobbs Group Advisors LLC increased its holdings in shares of ARM by 7.4% during the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors 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.