ARM (NASDAQ:ARM) Trading Up 4% – Still a Buy?

Arm Holdings plc (NASDAQ:ARM) shares rose 4% on Thursday . The stock traded as high as $129.40 and last traded at $128.25. Approximately 1,350,065 shares changed hands during trading, a decline of 87% from the average daily volume of 10,053,197 shares. The stock had previously closed at $123.36.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. TD Cowen boosted their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Raymond James initiated coverage on ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective for the company. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a report on Thursday, October 31st. Susquehanna raised their price target on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company started coverage on ARM in a research note on Friday, November 22nd. They set an “overweight” rating and a $155.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Trading Up 2.1 %

The stock’s 50-day simple moving average is $138.11 and its 200-day simple moving average is $142.96. The stock has a market cap of $131.95 billion, a price-to-earnings ratio of 209.89, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARM) last issued its quarterly 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. The business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. On average, equities research analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in ARM by 97.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,094 shares of the company’s stock valued at $19,323,000 after buying an additional 58,216 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in ARM during the second quarter worth $245,000. Commonwealth Equity Services LLC boosted its holdings in shares of ARM by 15.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 39,881 shares of the company’s stock valued at $6,525,000 after purchasing an additional 5,396 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of ARM in the 2nd quarter valued at $367,000. Finally, CIBC Asset Management Inc acquired a new position in shares of ARM during the 2nd quarter worth $3,067,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Company Profile

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.