ARM (NASDAQ:ARM) Stock Price Up 4.3% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shares shot up 4.3% on Tuesday . The stock traded as high as $149.25 and last traded at $148.14. 2,113,655 shares were traded during mid-day trading, a decline of 68% from the average session volume of 6,535,795 shares. The stock had previously closed at $142.04.

Analyst Upgrades and Downgrades

ARM has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, May 8th. Benchmark reaffirmed a “hold” rating on shares of ARM in a research report on Monday, June 9th. Bank of America dropped their target price on ARM from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Citigroup dropped their price target on ARM from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Barclays dropped their target price on ARM from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ARM has a consensus rating of “Moderate Buy” and a consensus price target of $152.76.

ARM Stock Performance

The firm has a market capitalization of $153.90 billion, a PE ratio of 191.03, a price-to-earnings-growth ratio of 6.33 and a beta of 4.08. The stock’s 50 day simple moving average is $121.41 and its two-hundred day simple moving average is $130.65.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. ARM had a return on equity of 11.94% and a net margin of 21.82%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business earned $0.36 EPS. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. Equities research analysts expect that Arm Holdings plc will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of ARM by 59.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company’s stock worth $702,129,000 after buying an additional 2,446,224 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of ARM by 17.9% in the 4th quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock valued at $376,782,000 after purchasing an additional 464,719 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of ARM by 48.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock worth $327,088,000 after purchasing an additional 860,716 shares during the period. FMR LLC increased its position in shares of ARM by 6.4% during the 4th quarter. FMR LLC now owns 2,199,197 shares of the company’s stock worth $271,293,000 after purchasing an additional 133,034 shares during the last quarter. Finally, Sustainable Growth Advisers LP purchased a new stake in ARM in the 1st quarter valued at about $170,287,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.