ARM (NASDAQ:ARM) Trading 0.6% Higher – Still a Buy?

Arm Holdings plc (NASDAQ:ARM)’s stock price shot up 0.6% during trading on Thursday . The stock traded as high as $148.25 and last traded at $145.20. 3,403,991 shares were traded during mid-day trading, a decline of 37% from the average session volume of 5,403,344 shares. The stock had previously closed at $144.38.

Wall Street Analysts Forecast Growth

ARM has been the subject of several research reports. William Blair initiated coverage on shares of ARM in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Barclays increased their price objective on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI raised their target price on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, TD Cowen raised their target price on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Stock Up 0.6 %

The firm has a market capitalization of $152.15 billion, a P/E ratio of 242.00, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53. The company’s 50 day moving average is $137.30 and its 200-day moving average is $142.09.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) 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 business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the firm earned $0.36 earnings per share. ARM’s revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARM. TD Asset Management Inc boosted its holdings in ARM by 21.2% during the second quarter. TD Asset Management Inc now owns 32,059 shares of the company’s stock worth $5,245,000 after purchasing an additional 5,602 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of ARM during the 2nd quarter valued at $8,782,000. Wedbush Securities Inc. increased its position in shares of ARM by 4.6% during the 2nd quarter. Wedbush Securities Inc. now owns 3,460 shares of the company’s stock valued at $566,000 after purchasing an additional 152 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of ARM during the 2nd quarter valued at $5,885,000. Finally, Main Street Financial Solutions LLC increased its position in shares of ARM by 48.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 7,159 shares of the company’s stock valued at $1,171,000 after purchasing an additional 2,346 shares during the last quarter. Institutional investors and hedge funds 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.