ARM (NASDAQ:ARM) Trading 0.7% Higher – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price shot up 0.7% during trading on Tuesday . The company traded as high as $150.50 and last traded at $146.95. 2,120,678 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 7,108,136 shares. The stock had previously closed at $145.96.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ARM. Barclays increased their price objective on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. Susquehanna boosted their price target on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group boosted their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.09.

ARM Price Performance

The company has a fifty day simple moving average of $140.94 and a 200-day simple moving average of $140.06. The company has a market cap of $160.56 billion, a P/E ratio of 255.39, a PEG ratio of 8.41 and a beta of 4.53.

ARM (NASDAQ:ARM) last issued its quarterly earnings data 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 return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the prior year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current year.

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 acquiring an additional 233,909 shares during the last quarter. Franklin Resources Inc. boosted 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 acquiring an additional 228,467 shares during the last quarter. SG Americas Securities LLC bought a new stake in ARM in the fourth quarter valued at approximately $22,705,000. Finally, UNICOM Systems Inc. bought a new position in shares of ARM during the fourth quarter worth $13,673,000. Institutional investors and hedge funds 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.