ARM (NASDAQ:ARM) Trading 2.6% Higher – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price shot up 2.6% on Friday . The stock traded as high as $146.78 and last traded at $144.93. 1,881,005 shares were traded during trading, a decline of 83% from the average session volume of 10,975,200 shares. The stock had previously closed at $141.30.

Analyst Ratings Changes

Several research firms have weighed in on ARM. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $107.00 to $190.00 in a research report on Friday, July 19th. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, August 1st. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a report on Thursday. Benchmark assumed coverage on ARM in a report on Monday, September 16th. They set a “hold” rating on the stock. Finally, Hsbc Global Res upgraded ARM to a “moderate sell” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

ARM Price Performance

The firm has a 50-day simple moving average of $140.79 and a 200 day simple moving average of $136.45. The company has a market capitalization of $149.97 billion and a PE ratio of 371.62.

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

Institutional Trading of ARM

Hedge funds and other institutional investors have recently modified their holdings of the business. KP Management LLC increased its position in shares of ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after acquiring an additional 10,000 shares during the last quarter. Willner & Heller LLC increased its holdings in ARM by 193.7% in the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after buying an additional 4,484 shares during the last quarter. Lazard Asset Management LLC increased its holdings in ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. increased its holdings in ARM by 156.3% in the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after buying an additional 11,220 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in ARM by 42.5% in the third quarter. Vontobel Holding Ltd. now owns 26,102 shares of the company’s stock valued at $3,733,000 after buying an additional 7,790 shares during the last quarter. 7.53% of the stock is owned by hedge funds and other 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.