ARM (NASDAQ:ARM) Shares Up 0.1% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price traded up 0.1% during mid-day trading on Thursday . The stock traded as high as $133.30 and last traded at $131.86. 789,205 shares changed hands during trading, a decline of 92% from the average session volume of 10,134,230 shares. The stock had previously closed at $131.79.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ARM. JPMorgan Chase & Co. upped their price objective on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. William Blair assumed coverage on ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. TD Cowen upped their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays boosted their target price on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Evercore ISI lifted their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.32.

ARM Trading Down 0.4 %

The company has a 50-day moving average of $140.58 and a 200-day moving average of $143.82. The firm has a market capitalization of $137.49 billion, a price-to-earnings ratio of 218.69, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARM) last issued its 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. 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 analysts’ expectations of $810.03 million. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current year.

Institutional Trading of ARM

Several hedge funds have recently made changes to their positions in the stock. ORG Partners LLC acquired a new stake in shares of ARM in the third quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC lifted its position in ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares during the period. Larson Financial Group LLC bought a new position in ARM during the 2nd quarter valued at $47,000. Alta Advisers Ltd bought a new stake in shares of ARM in the 2nd quarter worth $49,000. Finally, Quantbot Technologies LP bought a new position in ARM during the third quarter valued at about $52,000. 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.