ARM (NASDAQ:ARM) Shares Up 0.1% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s share price was up 0.1% during trading on Thursday . The stock traded as high as $133.30 and last traded at $131.86. Approximately 789,205 shares changed hands during trading, a decline of 92% from the average daily volume of 10,134,230 shares. The stock had previously closed at $131.79.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARM. Wells Fargo & Company began coverage on ARM in a research report on Friday, November 22nd. They set an “overweight” rating and a $155.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Raymond James initiated coverage on ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective on the stock. Barclays boosted their target price on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, UBS Group initiated coverage on shares of ARM in a report on Monday, November 25th. They set a “buy” rating and a $160.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Stock Performance

The business’s 50 day moving average price is $140.58 and its 200-day moving average price is $143.82. The company has a market cap of $137.49 billion, a price-to-earnings ratio of 218.69, a PEG ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. On average, equities research analysts expect that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Several institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after acquiring an additional 228,467 shares during the last quarter. International Assets Investment Management LLC grew its holdings in ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after acquiring an additional 806,676 shares during the last quarter. Sei Investments Co. increased its holdings in shares of 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after buying an additional 233,909 shares during the last quarter. Finally, Mark Asset Management LP increased its stake in shares of ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after buying an additional 29,686 shares during the period. 7.53% of the stock is 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.