ARM (NASDAQ:ARM) Trading Up 3% – What’s Next?

Shares of Arm Holdings plc (NASDAQ:ARM) rose 3% on Thursday . The company traded as high as $153.57 and last traded at $152.00. Approximately 1,638,252 shares changed hands during trading, a decline of 76% from the average daily volume of 6,769,338 shares. The stock had previously closed at $147.60.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ARM. Barclays increased their target price on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. UBS Group initiated coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research note on Thursday, October 31st. Finally, Susquehanna boosted their price objective on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and a consensus price target of $152.09.

ARM Price Performance

The company has a 50-day moving average of $141.82 and a 200 day moving average of $140.02. The company has a market cap of $167.18 billion, a PE ratio of 265.92, a price-to-earnings-growth ratio of 6.90 and a beta of 4.53.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share 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 the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Equities research analysts expect that Arm Holdings plc will post 0.84 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARM. ORG Partners LLC bought a new position in ARM in the 3rd quarter worth about $29,000. Gilliland Jeter Wealth Management LLC grew its stake in ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. Berbice Capital Management LLC purchased a new position in ARM during the 4th quarter worth $49,000. Quantbot Technologies LP bought a new stake in ARM during the 3rd quarter valued at $52,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after buying an additional 131 shares during the period. 7.53% of the stock is currently owned by 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.