ARM (NASDAQ:ARM) Shares Up 1.3% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) shares rose 1.3% on Wednesday . The stock traded as high as $148.25 and last traded at $146.29. Approximately 1,582,534 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 5,013,202 shares. The stock had previously closed at $144.38.

Analyst Upgrades and Downgrades

ARM has been the subject of several recent research reports. Susquehanna boosted their price target on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price 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. Finally, Wells Fargo & Company assumed coverage on ARM in a research note on Friday, November 22nd. They issued an “overweight” rating and a $155.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Trading Down 3.2 %

The company’s 50-day moving average is $137.36 and its 200 day moving average is $142.04. The stock has a market capitalization of $147.21 billion, a PE ratio of 234.15, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53.

ARM (NASDAQ:ARM) last released its quarterly earnings data 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. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. Sell-side analysts forecast that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. increased its stake in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after buying an additional 228,467 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Sei Investments Co. raised its stake in ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares in the last quarter. Finally, Mark Asset Management LP lifted its holdings in ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after purchasing an additional 29,686 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.