ARM (NASDAQ:ARM) Stock Price Up 5.1% – Time to Buy?

Arm Holdings plc (NASDAQ:ARM) shares rose 5.1% during mid-day trading on Friday . The company traded as high as $135.23 and last traded at $134.78. Approximately 1,963,837 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 2,703,700 shares. The stock had previously closed at $128.20.

Analysts Set New Price Targets

Several brokerages have commented on ARM. Susquehanna boosted their target price on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Benchmark assumed coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Raymond James started coverage on shares of ARM in a research note on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target on the stock. in a research report on Thursday, October 31st. Finally, UBS Group assumed coverage on ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Stock Up 7.5 %

The stock has a market cap of $144.40 billion, a P/E ratio of 229.69, a P/E/G ratio of 7.15 and a beta of 4.67. The firm has a 50 day moving average price of $137.85 and a 200 day moving average price of $142.85.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.36 EPS. Equities analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after buying an additional 806,676 shares in the last quarter. Sei Investments Co. lifted its stake in ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after purchasing an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares during the last quarter. Franklin Resources Inc. grew its position in shares of ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares in the last quarter. Finally, Marsico Capital Management LLC bought a new stake in shares of ARM in the second quarter worth about $33,207,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.