ARM (NASDAQ:ARM) Trading Up 3.1%

Arm Holdings plc (NASDAQ:ARM) shares were up 3.1% during mid-day trading on Monday . The stock traded as high as $123.40 and last traded at $120.87. Approximately 2,612,489 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 12,117,887 shares. The stock had previously closed at $117.29.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ARM shares. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Citigroup lifted their price target on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a research note on Thursday, August 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.56.

ARM Stock Up 10.3 %

The stock has a 50-day moving average of $141.67 and a 200 day moving average of $132.75. The company has a market capitalization of $147.03 billion and a PE ratio of 124.78.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share 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 business had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. During the same period in the prior year, the company earned $0.24 earnings per share. ARM’s revenue was up 39.1% compared to the same quarter last year. Equities analysts forecast that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of large investors have recently made changes to their positions in the stock. RiverPark Advisors LLC boosted its holdings in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares during the period. BOKF NA boosted its holdings in shares of ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after acquiring an additional 100 shares during the period. Comerica Bank boosted its holdings in shares of ARM by 6.1% in the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after acquiring an additional 103 shares during the period. Naples Money Management LLC boosted its holdings in shares of ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after acquiring an additional 110 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC boosted its holdings in shares of ARM by 2.9% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after acquiring an additional 145 shares during the period. 7.53% of the stock is 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.