ARM (NASDAQ:ARM) Trading Up 3.9% – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s share price was up 3.9% during trading on Wednesday . The company traded as high as $133.11 and last traded at $131.79. Approximately 3,464,234 shares were traded during trading, a decline of 66% from the average daily volume of 10,172,099 shares. The stock had previously closed at $126.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Loop Capital increased their target price on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen increased their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI increased 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. Raymond James started coverage on ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 target price for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a 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 issued a strong buy rating to the company. According to MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Trading Up 3.9 %

The stock 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 company’s 50-day moving average is $140.99 and its 200 day moving average is $143.91.

ARM (NASDAQ:ARM) last announced 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 for the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the company earned $0.36 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Trading of ARM

Several large investors have recently made changes to their positions in ARM. ORG Partners LLC acquired a new position in ARM during the third quarter worth about $29,000. Gilliland Jeter Wealth Management LLC grew its position in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares in the last quarter. Larson Financial Group LLC purchased a new position in ARM during the second quarter worth approximately $47,000. Alta Advisers Ltd purchased a new stake in ARM in the 2nd quarter valued at $49,000. Finally, Quantbot Technologies LP acquired a new position in ARM in the 3rd quarter valued at about $52,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.