ARM (NASDAQ:ARM) Trading Up 3.8% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shot up 3.8% on Wednesday . The company traded as high as $168.55 and last traded at $168.39. 2,997,312 shares were traded during trading, a decline of 55% from the average session volume of 6,596,675 shares. The stock had previously closed at $162.20.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ARM. Wells Fargo & Company upped their target price on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group increased their target price on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Susquehanna boosted their price target on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Evercore ISI boosted their target price on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.09.

ARM Stock Up 5.5 %

The company has a 50-day moving average of $142.65 and a two-hundred day moving average of $139.57. The company has a market capitalization of $179.26 billion, a P/E ratio of 285.24, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

A number of institutional investors have recently modified their holdings of the stock. Modus Advisors LLC lifted its position in ARM by 300.2% in the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after acquiring an additional 13,453 shares in the last quarter. KP Management LLC lifted its holdings in shares of ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares in the last quarter. XTX Topco Ltd boosted its position in shares of ARM by 150.1% during the third quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock valued at $928,000 after buying an additional 3,893 shares during the last quarter. Willner & Heller LLC increased its holdings in ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after buying an additional 4,484 shares in the last quarter. Finally, Avalon Global Asset Management LLC purchased a new position in ARM in the 3rd quarter worth about $8,581,000. 7.53% of the stock is 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.