ARM (NASDAQ:ARM) Trading Up 1.3% – Still a Buy?

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

Analyst Ratings Changes

ARM has been the subject of several recent analyst reports. Susquehanna raised their target price on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. UBS Group initiated coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective on the stock. Evercore ISI raised their target price on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Benchmark initiated coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Finally, Barclays increased their price target on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.32.

ARM Stock Down 3.2 %

The stock has a market capitalization of $147.21 billion, a PE ratio of 234.15, a PEG ratio of 7.15 and a beta of 4.53. The business’s 50-day moving average is $137.36 and its two-hundred day moving average is $142.04.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating 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 business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the prior year, the company earned $0.36 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Trading of ARM

Several hedge funds have recently made changes to their positions in ARM. ORG Partners LLC purchased a new stake in ARM during the third quarter worth about $29,000. Gilliland Jeter Wealth Management LLC boosted its stake in shares of ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares in the last quarter. Alta Advisers Ltd acquired a new stake in shares of ARM in the 2nd quarter worth approximately $49,000. Quantbot Technologies LP purchased a new position in ARM in the 3rd quarter valued at approximately $52,000. Finally, Farther Finance Advisors LLC raised its holdings in ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds 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.