ARM (NASDAQ:ARM) Stock Price Up 5.1% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) shares traded up 5.1% on Friday . The stock traded as high as $135.23 and last traded at $134.78. 1,963,837 shares traded hands during trading, a decline of 27% from the average session volume of 2,703,700 shares. The stock had previously closed at $128.20.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ARM shares. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research note on Thursday, October 31st. William Blair assumed coverage on ARM in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. TD Cowen increased their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Loop Capital boosted their price objective on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Stock Up 10.0 %

The firm has a market capitalization of $147.83 billion, a price-to-earnings ratio of 235.14, a P/E/G ratio of 7.15 and a beta of 4.67. The company has a fifty day moving average price of $137.80 and a two-hundred day moving average price of $142.50.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. On average, equities analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC purchased a new stake in shares of ARM in the third quarter valued at about $29,000. Gilliland Jeter Wealth Management LLC boosted its holdings in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares in the last quarter. Larson Financial Group LLC purchased a new stake in ARM in the 2nd quarter valued at approximately $47,000. Alta Advisers Ltd acquired a new position in ARM during the 2nd quarter worth approximately $49,000. Finally, Quantbot Technologies LP purchased a new position in shares of ARM during the 3rd quarter worth approximately $52,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.