ARM (NASDAQ:ARM) Trading 3.2% Higher – Still a Buy?

Arm Holdings plc (NASDAQ:ARM) shot up 3.2% during trading on Monday . The company traded as high as $142.24 and last traded at $140.33. 2,002,332 shares were traded during mid-day trading, a decline of 81% from the average session volume of 10,621,734 shares. The stock had previously closed at $135.99.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TD Cowen raised their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Benchmark started coverage on shares of ARM in a research note on Monday, September 16th. They issued a “hold” rating on the stock. Barclays increased their price objective 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. Finally, Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Stock Down 2.5 %

The company has a market capitalization of $139.75 billion, a P/E ratio of 222.29, a P/E/G ratio of 6.97 and a beta of 5.40. The firm’s 50-day moving average price is $143.22 and its 200 day moving average price is $141.27.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping 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 firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same period in the previous year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Arm Holdings plc will post 0.79 EPS for the current year.

Hedge Funds Weigh In On ARM

Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares in the last quarter. International Assets Investment Management LLC grew its stake in 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. Sei Investments Co. increased its position in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of ARM by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after buying an additional 14,584 shares during the last quarter. 7.53% of the stock is 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.