ARM (NASDAQ:ARM) Trading 3.8% Higher – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shares shot up 3.8% during mid-day trading on Tuesday . The company traded as high as $132.31 and last traded at $131.66. 1,783,599 shares were traded during trading, a decline of 82% from the average session volume of 10,164,514 shares. The stock had previously closed at $126.87.

Analyst Ratings Changes

ARM has been the topic of several analyst reports. Benchmark assumed coverage on ARM in a report on Monday, September 16th. They issued a “hold” rating on the stock. Evercore ISI upped their price objective on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Raymond James initiated coverage on shares of ARM in a research note on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Barclays increased their price target on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Trading Up 3.9 %

The firm has a market capitalization of $138.09 billion, a PE ratio of 219.65, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67. The business has a 50-day moving average of $141.37 and a 200 day moving average of $143.94.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the previous year, the company earned $0.36 earnings per share. The firm’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 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. grew its stake in shares of ARM by 7.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 4,833 shares of the company’s stock worth $683,000 after acquiring an additional 337 shares during the period. Franklin Resources Inc. boosted its position in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of ARM in the third quarter worth about $419,000. Virtu Financial LLC purchased a new position in ARM in the 3rd quarter valued at approximately $1,163,000. Finally, Hobbs Group Advisors LLC boosted 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 acquiring an additional 100 shares during the period. Institutional investors 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.