ARM (NASDAQ:ARM) Stock Price Up 4% – Time to Buy?

Arm Holdings plc (NASDAQ:ARM) traded up 4% during trading on Monday . The stock traded as high as $148.70 and last traded at $146.68. 2,803,899 shares traded hands during trading, a decline of 37% from the average session volume of 4,473,151 shares. The stock had previously closed at $141.08.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ARM shares. Susquehanna increased their price objective on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. TD Cowen increased their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price objective on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company started coverage on ARM in a research note on Friday, November 22nd. They issued an “overweight” rating and a $155.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Trading Up 5.7 %

The stock has a market cap of $156.33 billion, a price-to-earnings ratio of 248.65, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53. The stock has a fifty day simple moving average of $137.80 and a 200-day simple moving average of $142.28.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 return on equity of 13.69% and a net margin of 18.13%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. Sell-side analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of ARM

A number of hedge funds have recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of ARM by 21.7% in 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 period. International Assets Investment Management LLC lifted its position in shares of ARM by 14,351.1% in 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 period. Sei Investments Co. lifted its position in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares during the period. Finally, Mark Asset Management LP lifted its position in shares of ARM by 14.2% during the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after buying an additional 29,686 shares during the period. 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.