ARM (NASDAQ:ARM) Stock Price Up 3.2% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) was up 3.2% during mid-day trading on Monday . The stock traded as high as $142.24 and last traded at $140.33. Approximately 2,002,332 shares changed hands during trading, a decline of 81% from the average daily volume of 10,621,734 shares. The stock had previously closed at $135.99.

Analyst Ratings Changes

Several analysts recently commented on ARM shares. Deutsche Bank Aktiengesellschaft raised their target price on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company initiated coverage on ARM in a research note on Friday. They issued an “overweight” rating and a $155.00 price target for the company. Benchmark began coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. JPMorgan Chase & Co. increased their target price on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Stock Performance

The company’s 50 day simple moving average is $143.30 and its two-hundred day simple moving average is $140.87. The stock has a market cap of $146.36 billion, a price-to-earnings ratio of 232.80, a price-to-earnings-growth ratio of 6.79 and a beta of 5.40.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same period last year, the company earned $0.36 earnings per share. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARM. ORG Partners LLC acquired a new stake in ARM in the 3rd quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new position in shares of ARM in the second quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC lifted its stake in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares during the last quarter. RiverPark Advisors LLC boosted its holdings in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares during the period. Finally, Mather Group LLC. acquired a new position in ARM in the 2nd quarter valued at $41,000. Institutional investors 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.