Arm Holdings plc (NASDAQ:ARM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Arm Holdings plc (NASDAQ:ARM) has earned an average rating of “Moderate Buy” from the twenty-seven brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $152.09.

A number of analysts have weighed in on ARM shares. TD Cowen increased their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their target price on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target on the stock. in a research report on Thursday, October 31st. Finally, Evercore ISI boosted their price objective on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th.

ARM Stock Performance

Shares of ARM stock opened at $162.52 on Friday. The stock has a market capitalization of $170.29 billion, a price-to-earnings ratio of 270.87, a PEG ratio of 8.41 and a beta of 4.53. ARM has a one year low of $69.32 and a one year high of $188.75. The company’s 50-day simple moving average is $140.00 and its 200-day simple moving average is $141.03.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. As a group, research analysts forecast that ARM will post 0.84 EPS for the current year.

Institutional Investors Weigh In On ARM

Several hedge funds and other institutional investors have recently bought and sold shares of ARM. Modus Advisors LLC grew its stake in shares of ARM by 300.2% in the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock worth $2,212,000 after purchasing an additional 13,453 shares during the last quarter. KP Management LLC boosted its holdings in ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after buying an additional 10,000 shares in the last quarter. XTX Topco Ltd grew its position in ARM by 150.1% in the third quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock worth $928,000 after buying an additional 3,893 shares during the last quarter. Willner & Heller LLC increased its holdings in shares of ARM by 193.7% in the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after buying an additional 4,484 shares in the last quarter. Finally, Avalon Global Asset Management LLC acquired a new stake in shares of ARM during the 3rd quarter valued at $8,581,000. 7.53% of the stock is currently owned by institutional investors.

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.