ARM (NASDAQ:ARM) Trading Up 2.8% – Should You Buy?

Arm Holdings plc (NASDAQ:ARM) shares shot up 2.8% during trading on Tuesday . The company traded as high as $162.44 and last traded at $160.01. 1,500,280 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 6,605,650 shares. The stock had previously closed at $155.65.

Analysts Set New Price Targets

ARM has been the subject of several analyst reports. TD Cowen increased their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Susquehanna boosted their target price on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company increased their price objective on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday. Finally, Mizuho increased their price objective on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $162.17.

ARM Stock Performance

The company has a market cap of $175.48 billion, a price-to-earnings ratio of 279.12, a P/E/G ratio of 7.46 and a beta of 4.56. The company’s fifty day moving average is $143.45 and its two-hundred day moving average is $139.80.

ARM (NASDAQ:ARM) last released its quarterly earnings data 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. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, sell-side analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Institutional Trading of ARM

A number of hedge funds have recently modified their holdings of ARM. ORG Partners LLC acquired a new position in shares of ARM in the third quarter worth about $29,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares in the last quarter. Berbice Capital Management LLC acquired a new position in ARM in the 4th quarter worth about $49,000. Quantbot Technologies LP purchased a new position in ARM during the third quarter worth approximately $52,000. Finally, Farther Finance Advisors LLC grew its holdings in ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after purchasing an additional 131 shares during the period. 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.