ARM (NASDAQ:ARM) Trading 2.9% Higher – Here’s Why

Shares of Arm Holdings plc (NASDAQ:ARM) rose 2.9% during trading on Wednesday . The company traded as high as $155.20 and last traded at $155.09. Approximately 2,480,767 shares were traded during trading, a decline of 78% from the average daily volume of 11,307,863 shares. The stock had previously closed at $150.67.

Analyst Ratings Changes

Several research firms have commented on ARM. Citigroup upped their price objective on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and increased their price target for the company from $92.00 to $100.00 in a report on Wednesday, August 7th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $107.00 to $190.00 in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their target price on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays boosted their price target on ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $134.91.

ARM Stock Performance

The stock has a market cap of $160.35 billion and a price-to-earnings ratio of 395.50. The stock has a fifty day simple moving average of $136.38 and a two-hundred day simple moving average of $134.88.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 earnings per share. Equities analysts expect that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Willner & Heller LLC raised its holdings in ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after buying an additional 4,484 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after acquiring an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. lifted its holdings in shares of ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after purchasing an additional 11,220 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of ARM in the second quarter worth $4,090,000. Finally, Rheos Capital Works Inc. increased its holdings in ARM by 48.1% in the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after purchasing an additional 83,400 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.