ARM (NASDAQ:ARM) Trading Up 0.6% – Should You Buy?

Arm Holdings plc (NASDAQ:ARM)’s share price traded up 0.6% on Thursday . The stock traded as high as $148.25 and last traded at $145.20. 3,403,991 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 5,403,344 shares. The stock had previously closed at $144.38.

Wall Street Analysts Forecast Growth

ARM has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Wells Fargo & Company began coverage on shares of ARM in a research report on Friday, November 22nd. They set an “overweight” rating and a $155.00 price target for the company. Barclays upped their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. UBS Group began coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price target for the company. Finally, TD Cowen increased their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Price Performance

The firm has a market cap of $147.21 billion, a P/E ratio of 234.15, a P/E/G ratio of 7.15 and a beta of 4.53. The stock’s 50 day simple moving average is $137.36 and its two-hundred day simple moving average is $142.04.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during 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 firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ARM. Victory Capital Management Inc. purchased a new position in shares of ARM during the 2nd quarter worth $8,782,000. Wedbush Securities Inc. boosted its stake in shares of ARM by 4.6% during the 2nd quarter. Wedbush Securities Inc. now owns 3,460 shares of the company’s stock worth $566,000 after acquiring an additional 152 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of ARM during the 2nd quarter worth $5,885,000. Main Street Financial Solutions LLC boosted its stake in shares of ARM by 48.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 7,159 shares of the company’s stock worth $1,171,000 after acquiring an additional 2,346 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of ARM by 258.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 58,197 shares of the company’s stock worth $9,522,000 after acquiring an additional 41,948 shares during the last quarter. Hedge funds and other 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.