ARM (NASDAQ:ARM) Trading 1.3% Higher – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s stock price traded up 1.3% on Friday . The stock traded as high as $151.76 and last traded at $151.27. 975,198 shares changed hands during trading, a decline of 91% from the average session volume of 11,362,608 shares. The stock had previously closed at $149.33.

Wall Street Analyst Weigh In

Several research firms have commented on ARM. HSBC cut ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Evercore ISI boosted their target price on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price on the stock in a research note on Thursday, August 8th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $107.00 to $190.00 in a research note on Friday, July 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM 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 given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and a consensus price target of $134.91.

ARM Stock Performance

The business has a fifty day simple moving average of $132.98 and a 200 day simple moving average of $134.11. The stock has a market capitalization of $158.70 billion and a price-to-earnings ratio of 388.37.

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

Institutional Trading of ARM

A number of institutional investors have recently modified their holdings of the stock. RiverPark Advisors LLC lifted its position in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of ARM by 14.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after acquiring an additional 77 shares during the period. BOKF NA lifted its position in shares of ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after acquiring an additional 100 shares during the period. Comerica Bank lifted its position in shares of ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after acquiring an additional 103 shares during the period. Finally, Naples Money Management LLC lifted its position in shares of ARM by 47.8% during the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after acquiring an additional 110 shares during the period. 7.53% of the stock is currently owned by 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.