ARM (NASDAQ:ARM) Stock Price Up 1.7% – Here’s Why

Shares of Arm Holdings plc (NASDAQ:ARM) traded up 1.7% on Wednesday . The company traded as high as $144.54 and last traded at $142.76. 1,425,974 shares traded hands during trading, a decline of 86% from the average session volume of 10,451,744 shares. The stock had previously closed at $140.38.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Benchmark assumed coverage on shares of ARM in a report on Monday, September 16th. They issued a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, November 7th. UBS Group began coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price target for the company. Loop Capital increased their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Susquehanna increased their price target on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Stock Up 0.7 %

The firm has a market cap of $148.06 billion, a P/E ratio of 237.94, a PEG ratio of 7.01 and a beta of 4.67. The stock’s 50-day simple moving average is $142.90 and its 200 day simple moving average is $142.09.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same period last year, the business posted $0.36 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. RiverPark Advisors LLC lifted its stake in ARM by 45.3% in 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 last quarter. Hexagon Capital Partners LLC lifted its stake in ARM by 14.0% in the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after purchasing an additional 77 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in ARM by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after purchasing an additional 100 shares during the last quarter. Hobbs Group Advisors LLC lifted its stake in ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after purchasing an additional 100 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its stake in ARM by 5.5% in the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after purchasing an additional 102 shares during the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.