ARM (NASDAQ:ARM) Trading 2.9% Higher – Still a Buy?

Arm Holdings plc (NASDAQ:ARM) shares traded up 2.9% during mid-day trading on Wednesday . The company traded as high as $155.20 and last traded at $155.09. 2,480,767 shares changed hands during trading, a decline of 78% from the average session volume of 11,307,863 shares. The stock had previously closed at $150.67.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a report on Thursday, August 8th. Guggenheim upped their target price on ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a report on Monday, July 29th. Finally, Barclays upped their target price on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.91.

ARM Trading Up 1.4 %

The stock has a market capitalization of $160.05 billion and a PE ratio of 397.68. The firm’s fifty day moving average price is $134.75 and its two-hundred day moving average price is $134.61.

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

Institutional Investors Weigh In On ARM

Hedge funds have recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of ARM in the first quarter valued at about $25,000. Transcendent Capital Group LLC acquired a new position in ARM in the second quarter valued at $33,000. ORG Partners LLC purchased a new position in shares of ARM during the 3rd quarter worth about $29,000. RiverPark Advisors LLC boosted its holdings in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in ARM during the second quarter valued at about $41,000. Institutional investors and hedge funds 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.