ARM (NASDAQ:ARM) Sees Large Volume Increase – Still a Buy?

Shares of Arm Holdings plc (NASDAQ:ARM) saw strong trading volume on Wednesday . 7,993,540 shares were traded during mid-day trading, an increase of 67% from the previous session’s volume of 4,788,344 shares.The stock last traded at $180.52 and had previously closed at $155.20.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARM. Susquehanna upped their price objective on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. TD Cowen boosted their price target on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group assumed coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. Evercore ISI upped their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein downgraded 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 report on Thursday, October 31st. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $151.09.

ARM Trading Up 14.5 %

The stock has a market cap of $186.23 billion, a P/E ratio of 295.36, a price-to-earnings-growth ratio of 6.97 and a beta of 4.53. The stock has a 50 day simple moving average of $137.82 and a 200 day simple moving average of $140.73.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $810.03 million. During the same period in the previous year, the business earned $0.36 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts anticipate that Arm Holdings plc will post 0.84 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new position in shares of ARM in the 3rd quarter worth approximately $29,000. Gilliland Jeter Wealth Management LLC grew its holdings in 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 during the period. Berbice Capital Management LLC acquired a new stake in ARM during the 4th quarter worth about $49,000. Quantbot Technologies LP acquired a new position in shares of ARM in the 3rd quarter valued at about $52,000. Finally, Farther Finance Advisors LLC boosted its position in shares of ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after purchasing an additional 131 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.