ARM (NASDAQ:ARM) Trading 4% Higher – Time to Buy?

Shares of Arm Holdings plc (NASDAQ:ARM) were up 4% during trading on Thursday . The company traded as high as $129.40 and last traded at $128.25. Approximately 1,350,065 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 10,053,197 shares. The stock had previously closed at $123.36.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 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. Susquehanna boosted their target price on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, Raymond James began coverage on ARM in a research report on Friday, September 13th. They issued an “outperform” rating and a $160.00 target price for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.32.

ARM Stock Up 2.1 %

The firm has a 50 day moving average of $138.11 and a 200 day moving average of $142.96. The firm has a market cap of $131.95 billion, a price-to-earnings ratio of 209.89, a PEG ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share 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 analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Equities analysts expect that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARM. Bank of New York Mellon Corp increased its holdings in shares of ARM by 97.2% during the second quarter. Bank of New York Mellon Corp now owns 118,094 shares of the company’s stock valued at $19,323,000 after acquiring an additional 58,216 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in ARM in the 2nd quarter valued at $245,000. Commonwealth Equity Services LLC increased its stake in ARM by 15.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 39,881 shares of the company’s stock valued at $6,525,000 after purchasing an additional 5,396 shares in the last quarter. Ritholtz Wealth Management bought a new stake in ARM during the 2nd quarter valued at $367,000. Finally, CIBC Asset Management Inc acquired a new position in ARM during the second quarter worth $3,067,000. Institutional investors own 7.53% of the company’s stock.

ARM Company Profile

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.