ARM (NASDAQ:ARM) Stock Price Up 3% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shares were up 3% during trading on Thursday . The stock traded as high as $153.57 and last traded at $152.00. Approximately 1,638,252 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 6,769,338 shares. The stock had previously closed at $147.60.

Analyst Upgrades and Downgrades

ARM has been the topic of a number of recent research reports. UBS Group assumed coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price on the stock. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Susquehanna increased their price target on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $152.09.

ARM Price Performance

The stock’s fifty day moving average price is $140.94 and its 200 day moving average price is $140.06. The stock has a market capitalization of $160.56 billion, a P/E ratio of 255.39, a PEG ratio of 8.41 and a beta of 4.53.

ARM (NASDAQ:ARM) last posted its 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 business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. On average, sell-side analysts expect that Arm Holdings plc will post 0.84 earnings per share for the current year.

Institutional Trading of ARM

Institutional investors have recently made changes to their positions in the business. Creative Planning boosted its stake in shares of ARM by 438.5% in the second quarter. Creative Planning now owns 31,601 shares of the company’s stock worth $5,171,000 after buying an additional 25,733 shares during the last quarter. NewEdge Advisors LLC grew its stake in ARM by 54.1% in the 2nd quarter. NewEdge Advisors LLC now owns 34,386 shares of the company’s stock valued at $5,626,000 after acquiring an additional 12,078 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in ARM by 810.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 26,672 shares of the company’s stock worth $4,364,000 after acquiring an additional 23,741 shares during the period. Sunbelt Securities Inc. lifted its holdings in ARM by 36.3% during the second quarter. Sunbelt Securities Inc. now owns 1,840 shares of the company’s stock valued at $301,000 after purchasing an additional 490 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of ARM during the second quarter worth about $736,000. Institutional investors and hedge funds 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.