ARM (NASDAQ:ARM) Stock Price Up 3% – Should You Buy?

Arm Holdings plc (NASDAQ:ARM) shares traded up 3% on Thursday . The stock traded as high as $153.57 and last traded at $152.00. 1,638,252 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 6,769,338 shares. The stock had previously closed at $147.60.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD Cowen increased 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. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Barclays boosted their price target on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted their target price on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Susquehanna increased their price target on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.09.

ARM Stock Up 4.1 %

The stock has a market cap of $167.18 billion, a PE ratio of 265.92, a P/E/G ratio of 6.90 and a beta of 4.53. The business has a 50 day moving average price of $141.82 and a 200 day moving average price of $140.02.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, research analysts predict that Arm Holdings plc will post 0.84 earnings per share for the current fiscal year.

Institutional Trading of ARM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning boosted its holdings in ARM by 438.5% in the 2nd quarter. Creative Planning now owns 31,601 shares of the company’s stock valued at $5,171,000 after purchasing an additional 25,733 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in ARM by 810.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 26,672 shares of the company’s stock worth $4,364,000 after acquiring an additional 23,741 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in ARM during the second quarter worth $736,000. Cetera Investment Advisers raised its position in ARM by 42.2% in the second quarter. Cetera Investment Advisers now owns 38,973 shares of the company’s stock valued at $6,377,000 after purchasing an additional 11,572 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of ARM during the 2nd quarter worth $737,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.