ARM (NASDAQ:ARM) Trading Up 2.8% – What’s Next?

Shares of Arm Holdings plc (NASDAQ:ARM) traded up 2.8% during trading on Tuesday . The company traded as high as $162.44 and last traded at $160.01. 1,500,280 shares traded hands during trading, a decline of 77% from the average session volume of 6,605,650 shares. The stock had previously closed at $155.65.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup raised their price objective on shares of ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group started coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price target for the company. Benchmark reiterated a “hold” rating on shares of ARM in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday. Finally, Rosenblatt Securities upped their price target on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Stock Performance

The business’s 50-day moving average is $143.45 and its 200 day moving average is $139.80. The company has a market cap of $175.48 billion, a PE ratio of 279.12, a PEG ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates 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%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 EPS. Equities research analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of ARM during the fourth quarter valued at approximately $32,655,000. Oak Grove Capital LLC bought a new stake in shares of ARM during the fourth quarter valued at approximately $284,000. Victory Capital Management Inc. raised its stake in shares of ARM by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 57,611 shares of the company’s stock worth $7,107,000 after purchasing an additional 1,190 shares during the last quarter. Kapstone Financial Advisors LLC purchased a new position in ARM in the 4th quarter worth about $215,000. Finally, Charles Schwab Investment Management Inc. lifted its position in ARM by 41.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,191 shares of the company’s stock valued at $3,231,000 after purchasing an additional 7,734 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.