ARM (NASDAQ:ARM) Trading Up 3.8% – Time to Buy?

Arm Holdings plc (NASDAQ:ARM) shares shot up 3.8% on Tuesday . The stock traded as high as $132.31 and last traded at $131.66. 1,783,599 shares changed hands during trading, a decline of 82% from the average session volume of 10,164,514 shares. The stock had previously closed at $126.87.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Loop Capital increased their price target on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays raised their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Raymond James initiated coverage on shares of ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target on the stock. The Goldman Sachs Group lifted 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. Finally, Evercore ISI upped their target price on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Stock Up 3.9 %

The company has a market cap of $138.09 billion, a PE ratio of 219.65, a PEG ratio of 7.15 and a beta of 4.67. The company’s fifty day moving average is $141.37 and its 200-day moving average is $143.94.

ARM (NASDAQ:ARM) last posted its quarterly earnings data 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. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter last year, the firm posted $0.36 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently bought and sold shares of ARM. Franklin Resources Inc. raised its position in shares of ARM by 21.7% during the 3rd 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 during the period. International Assets Investment Management LLC lifted its position 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 valued at $1,161,670,000 after acquiring an additional 806,676 shares in the last quarter. Sei Investments Co. boosted its stake in shares of ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position 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 worth $52,279,000 after purchasing an additional 233,909 shares in the last quarter. Finally, Mark Asset Management LP grew its position in shares of ARM by 14.2% during 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 in 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.