ARM (NASDAQ:ARM) Trading 1.6% Higher – Time to Buy?

Arm Holdings plc (NASDAQ:ARM) shares were up 1.6% during trading on Thursday . The stock traded as high as $158.20 and last traded at $154.96. Approximately 2,534,113 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 11,279,110 shares. The stock had previously closed at $152.50.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Loop Capital raised their price objective on ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Sanford C. Bernstein upgraded shares of ARM from an “underperform” rating to a “market perform” rating and raised their price target for the company from $92.00 to $100.00 in a report on Wednesday, August 7th. Evercore ISI boosted their price objective on shares of ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, TD Cowen raised shares of ARM to a “strong-buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.91.

ARM Price Performance

The firm has a market capitalization of $160.35 billion and a price-to-earnings ratio of 392.39. The business has a fifty day moving average price of $137.10 and a two-hundred day moving average price of $135.06.

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

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Willner & Heller LLC increased its stake in ARM by 193.7% during the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after acquiring an additional 4,484 shares during the last quarter. Lazard Asset Management LLC increased its stake in ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after acquiring an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. increased its stake in ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after acquiring an additional 11,220 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of ARM in the second quarter valued at $4,090,000. Finally, Rheos Capital Works Inc. grew its stake in shares of ARM by 48.1% in the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after buying an additional 83,400 shares in the last quarter. 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.