ARM (NASDAQ:ARM) Trading Up 3.4% – Should You Buy?

Arm Holdings plc (NASDAQ:ARM)’s stock price was up 3.4% during trading on Monday . The stock traded as high as $139.37 and last traded at $138.91. Approximately 1,376,984 shares were traded during trading, a decline of 87% from the average daily volume of 10,500,966 shares. The stock had previously closed at $134.29.

Wall Street Analysts Forecast Growth

ARM has been the topic of several analyst reports. Evercore ISI increased their target price on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company assumed coverage on ARM in a research report on Friday, November 22nd. They issued an “overweight” rating and a $155.00 price objective for the company. Benchmark assumed coverage on shares of ARM in a report on Monday, September 16th. They set a “hold” rating on the stock. Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a report on Thursday, August 8th. Finally, William Blair began coverage on shares of ARM in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Trading Up 4.3 %

The company’s 50 day moving average is $142.98 and its 200-day moving average is $141.70. The firm has a market capitalization of $146.78 billion, a price-to-earnings ratio of 231.52, a P/E/G ratio of 6.71 and a beta of 5.40.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating 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 analysts’ expectations of $810.03 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts expect that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Trading of ARM

Several hedge funds and other institutional investors have recently modified their holdings of the stock. KP Management LLC boosted its holdings in shares of ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after acquiring an additional 10,000 shares during the period. Willner & Heller LLC grew its holdings in ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after buying an additional 4,484 shares in the last quarter. United Advisor Group LLC bought a new position in ARM during the 3rd quarter worth $545,000. Mizuho Securities Co. Ltd. boosted its position in shares of ARM by 156.3% in the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after acquiring an additional 11,220 shares during the period. Finally, Stephens Inc. AR increased its position in ARM by 312.9% during the third quarter. Stephens Inc. AR now owns 13,770 shares of the company’s stock worth $1,969,000 after acquiring an additional 10,435 shares during the period. Institutional investors 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.