ARM (NASDAQ:ARM) Shares Up 3.4% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) rose 3.4% during mid-day trading on Monday . The stock traded as high as $139.37 and last traded at $138.91. Approximately 1,376,984 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 10,500,966 shares. The stock had previously closed at $134.29.

Analyst Upgrades and Downgrades

ARM has been the topic of a number of recent research reports. Loop Capital raised their price objective on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group started coverage on shares of ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. Susquehanna increased their price objective on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target on the stock. in a report on Thursday, October 31st. Finally, TD Cowen lifted their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.32.

ARM Stock Up 4.3 %

The stock has a market capitalization of $146.78 billion, a PE ratio of 231.52, a PEG ratio of 6.71 and a beta of 5.40. The company has a 50-day moving average of $142.98 and a 200 day moving average of $141.70.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. As a group, equities analysts predict that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Trading of ARM

Several institutional investors have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC acquired a new stake in shares of ARM during the second quarter worth about $33,000. ORG Partners LLC purchased a new position in ARM in the 3rd quarter valued at approximately $29,000. RiverPark Advisors LLC grew its stake in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of ARM during the second quarter worth $41,000. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds 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.