ARM (NASDAQ:ARM) Trading Up 4.7% – Should You Buy?

Arm Holdings plc (NASDAQ:ARM)’s stock price rose 4.7% on Wednesday . The company traded as high as $147.25 and last traded at $146.60. Approximately 1,762,791 shares changed hands during trading, a decline of 59% from the average daily volume of 4,249,685 shares. The stock had previously closed at $140.06.

Wall Street Analysts Forecast Growth

ARM has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group upped their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Evercore ISI upped their price objective on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Susquehanna upped their price objective on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, UBS Group started coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price objective for the company. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $150.64.

ARM Stock Up 4.9 %

The firm has a market cap of $153.94 billion, a PE ratio of 244.85, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53. The business has a 50-day moving average price of $137.34 and a two-hundred day moving average price of $141.38.

ARM (NASDAQ:ARM) last posted 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. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. ARM’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, equities research analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Large investors have recently bought and sold shares of the business. American Century Companies Inc. purchased a new position in shares of ARM during the second quarter worth about $5,885,000. Envestnet Asset Management Inc. grew its holdings in shares of ARM by 20.0% during the second quarter. Envestnet Asset Management Inc. now owns 37,902 shares of the company’s stock worth $6,202,000 after purchasing an additional 6,311 shares during the last quarter. Rathbones Group PLC grew its holdings in shares of ARM by 59.8% during the second quarter. Rathbones Group PLC now owns 12,330 shares of the company’s stock worth $2,017,000 after purchasing an additional 4,614 shares during the last quarter. STF Management LP purchased a new position in shares of ARM during the second quarter worth about $310,000. Finally, WealthPLAN Partners LLC grew its holdings in shares of ARM by 63.5% during the second quarter. WealthPLAN Partners LLC now owns 3,210 shares of the company’s stock worth $525,000 after purchasing an additional 1,247 shares during the last quarter. Hedge funds and other 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.