ARM (NASDAQ:ARM) Stock Price Up 1.3% – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s stock price shot up 1.3% during trading on Wednesday . The company traded as high as $148.25 and last traded at $146.29. 1,582,534 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 5,013,202 shares. The stock had previously closed at $144.38.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company began coverage on shares of ARM in a research note on Friday, November 22nd. They set an “overweight” rating and a $155.00 target price for the company. The Goldman Sachs Group increased their price objective on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Price Performance

The business’s 50-day simple moving average is $137.49 and its 200-day simple moving average is $142.07. The company has a market cap of $152.91 billion, a price-to-earnings ratio of 243.22, a PEG ratio of 7.15 and a beta of 4.53.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the prior year, the company earned $0.36 EPS. ARM’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after buying an additional 228,467 shares during the period. International Assets Investment Management LLC grew its holdings in ARM by 14,351.1% in the third 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. grew its holdings in ARM by 551.6% in the second 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 period. Mirae Asset Global Investments Co. Ltd. increased its position in ARM by 186.8% during the third 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 last quarter. Finally, Mark Asset Management LP raised its stake in ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after purchasing an additional 29,686 shares during the period. 7.53% of the stock is currently 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.