ARM (NASDAQ:ARM) Stock Price Up 3.2% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) shares rose 3.2% on Monday . The stock traded as high as $142.24 and last traded at $140.33. Approximately 2,002,332 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 10,621,734 shares. The stock had previously closed at $135.99.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ARM. Barclays raised their price objective on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. 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. Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a research report on Monday, July 29th. Finally, HSBC lowered shares of ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $150.32.

ARM Trading Up 2.7 %

The company’s 50 day moving average is $143.30 and its 200-day moving average is $140.87. The stock has a market cap of $146.36 billion, a PE ratio of 232.80, a P/E/G ratio of 6.79 and a beta of 5.40.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. 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 previous year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Investors Weigh In On ARM

Institutional investors have recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in ARM during the 2nd quarter worth $33,000. ORG Partners LLC acquired a new position in shares of ARM during the third quarter valued at $29,000. RiverPark Advisors LLC grew its position in shares of ARM by 45.3% during 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 last quarter. Mather Group LLC. acquired a new stake in shares of ARM in the 2nd quarter worth about $41,000. Finally, Gilliland Jeter Wealth Management LLC lifted its position in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the last quarter. 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.