ARM (NASDAQ:ARM) Trading 1.6% Higher – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price traded up 1.6% during trading on Tuesday . The company traded as high as $152.90 and last traded at $152.41. 1,031,589 shares changed hands during trading, a decline of 91% from the average session volume of 11,049,564 shares. The stock had previously closed at $150.02.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARM. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Hsbc Global Res raised ARM to a “moderate sell” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research report on Thursday. Finally, Barclays upped their target price on ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $138.57.

ARM Trading Down 8.5 %

The stock has a market capitalization of $148.06 billion and a price-to-earnings ratio of 367.10. The stock has a 50-day moving average price of $140.56 and a 200 day moving average price of $136.41.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 39.1% on a year-over-year basis. Equities research analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current year.

Institutional Trading of ARM

A number of hedge funds have recently bought and sold shares of ARM. Mark Sheptoff Financial Planning LLC purchased a new position in ARM during the first quarter worth approximately $25,000. Transcendent Capital Group LLC acquired a new position in shares of ARM during the 2nd quarter valued at about $33,000. ORG Partners LLC purchased a new stake in shares of ARM in the third quarter valued at about $29,000. RiverPark Advisors LLC raised its stake in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the period. Finally, Mather Group LLC. acquired a new position in ARM in the 2nd quarter valued at about $41,000. 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.