ARM (NASDAQ:ARM) Shares Up 3.9% – Time to Buy?

Shares of Arm Holdings plc (NASDAQ:ARMGet Free Report) rose 3.9% on Wednesday . The stock traded as high as $133.11 and last traded at $131.79. Approximately 3,464,234 shares changed hands during trading, a decline of 66% from the average daily volume of 10,172,099 shares. The stock had previously closed at $126.87.

Wall Street Analyst Weigh In

ARM has been the subject 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. William Blair began coverage on ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Barclays raised their target price on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, TD Cowen raised their price objective 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 analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

Check Out Our Latest Stock Report on ARM

ARM Stock Down 1.6 %

The stock’s fifty day moving average is $140.08 and its two-hundred day moving average is $143.73. The firm has a market capitalization of $135.89 billion, a price-to-earnings ratio of 216.15, a P/E/G ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARMGet Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $810.03 million. During the same period in the previous year, the business earned $0.36 EPS. ARM’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Trading of ARM

A number of hedge funds have recently made changes to their positions in ARM. B. Riley Wealth Advisors Inc. increased its holdings in shares of ARM by 7.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 4,833 shares of the company’s stock worth $683,000 after acquiring an additional 337 shares during the last quarter. Franklin Resources Inc. boosted its position in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares during the period. Wilmington Savings Fund Society FSB bought a new position in ARM during the third quarter worth $419,000. Virtu Financial LLC acquired a new position in shares of ARM in the third quarter valued at $1,163,000. Finally, Hobbs Group Advisors LLC raised its position in shares of ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after purchasing an additional 100 shares during the period. 7.53% of the stock is owned by institutional investors and hedge funds.

About ARM

(Get Free Report)

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.

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