ARM (NASDAQ:ARM) Trading Up 1.3% – Time to Buy?

Arm Holdings plc (NASDAQ:ARM) traded up 1.3% during mid-day trading on Thursday . The company traded as high as $138.79 and last traded at $136.81. 1,611,963 shares changed hands during trading, a decline of 85% from the average session volume of 10,807,219 shares. The stock had previously closed at $135.09.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ARM shares. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Thursday, August 8th. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a report on Thursday, October 31st. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Finally, Evercore ISI raised their target price on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.95.

ARM Trading Up 1.1 %

The firm’s fifty day moving average price is $143.11 and its two-hundred day moving average price is $139.12. The stock has a market capitalization of $143.04 billion, a PE ratio of 228.02, a price-to-earnings-growth ratio of 6.39 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued 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. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its position in shares of ARM by 33.7% during the third quarter. Captrust Financial Advisors now owns 3,817 shares of the company’s stock worth $546,000 after purchasing an additional 963 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in ARM during the 3rd quarter valued at about $2,768,000. Rockefeller Capital Management L.P. raised its holdings in ARM by 18.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 15,354 shares of the company’s stock valued at $2,196,000 after acquiring an additional 2,386 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of ARM by 79.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,550 shares of the company’s stock worth $937,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ARM by 318.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,589 shares of the company’s stock valued at $799,000 after purchasing an additional 4,254 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.