ARM (NASDAQ:ARM) Shares Up 1.9%

Arm Holdings plc (NASDAQ:ARM)’s share price rose 1.9% during mid-day trading on Thursday . The stock traded as high as $124.47 and last traded at $123.24. Approximately 1,551,405 shares traded hands during trading, a decline of 87% from the average daily volume of 12,186,568 shares. The stock had previously closed at $120.95.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ARM. The Goldman Sachs Group boosted their price target on shares of ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Bank of America boosted their target price on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of ARM in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ARM has an average rating of “Moderate Buy” and an average price target of $121.56.

ARM Trading Up 2.6 %

The stock has a market capitalization of $129.98 billion and a P/E ratio of 140.35. The company’s fifty day simple moving average is $144.86 and its 200 day simple moving average is $132.81.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. Equities research analysts predict that Arm Holdings plc will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mark Sheptoff Financial Planning LLC bought a new stake in ARM during the first quarter worth about $25,000. Transcendent Capital Group LLC purchased a new position in shares of ARM during the 2nd quarter valued at about $33,000. SOA Wealth Advisors LLC. bought a new stake in ARM in the 1st quarter worth approximately $35,000. RiverPark Advisors LLC boosted its stake in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares in the last quarter. Finally, Mather Group LLC. bought a new position in ARM during the second quarter valued at approximately $41,000. 7.53% of the stock is currently owned by 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.