ARM (NASDAQ:ARM) Shares Up 1.5% – Still a Buy?

Arm Holdings plc (NASDAQ:ARM)’s stock price rose 1.5% during trading on Wednesday . The stock traded as high as $146.64 and last traded at $144.95. Approximately 802,157 shares traded hands during trading, a decline of 92% from the average daily volume of 10,227,081 shares. The stock had previously closed at $142.80.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ARM shares. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a report on Thursday, October 31st. 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 on the stock. Barclays increased their price objective on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Susquehanna increased their price target on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Trading Down 2.1 %

The company has a 50-day moving average of $143.03 and a 200-day moving average of $143.94. The firm has a market capitalization of $146.49 billion, a price-to-earnings ratio of 233.00, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (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 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 period last year, the firm posted $0.36 EPS. On average, research analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Several hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. increased its position in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the period. International Assets Investment Management LLC grew its stake 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 purchasing an additional 806,676 shares in the last quarter. Sei Investments Co. increased its holdings in shares of ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARM by 186.8% during the third 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 in the last quarter. Finally, Mark Asset Management LP lifted its holdings in ARM by 14.2% in the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after purchasing an additional 29,686 shares during the period. 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.