ARM (NASDAQ:ARM) Trading Up 1.9% – Still a Buy?

Arm Holdings plc (NASDAQ:ARM) shot up 1.9% on Tuesday . The company traded as high as $131.32 and last traded at $131.07. 1,066,155 shares were traded during trading, a decline of 90% from the average session volume of 10,738,377 shares. The stock had previously closed at $128.66.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ARM shares. Evercore ISI upped their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Benchmark assumed coverage on ARM in a report on Monday, September 16th. They issued a “hold” rating for the company. Susquehanna lifted their price objective on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

ARM Trading Up 0.5 %

The company has a market capitalization of $140.09 billion, a PE ratio of 222.84, a P/E/G ratio of 6.64 and a beta of 5.40. The stock’s fifty day moving average is $143.65 and its two-hundred day moving average is $140.25.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping 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 company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same quarter last year, the business posted $0.36 EPS. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new stake in ARM during the 2nd quarter worth about $33,000. ORG Partners LLC bought a new position in shares of ARM in the third quarter valued at approximately $29,000. RiverPark Advisors LLC grew its stake in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares in the last quarter. Mather Group LLC. bought a new stake in ARM during the 2nd quarter worth approximately $41,000. Finally, Gilliland Jeter Wealth Management LLC lifted its stake in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. Institutional investors 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.