ARM (NASDAQ:ARM) Stock Price Up 3.8% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price shot up 3.8% during trading on Wednesday . The stock traded as high as $168.55 and last traded at $168.39. 2,997,312 shares changed hands during trading, a decline of 55% from the average session volume of 6,596,675 shares. The stock had previously closed at $162.20.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARM. Citigroup lifted their target price on shares of ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho lifted their price target on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday. 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 note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Stock Performance

The firm has a market capitalization of $170.28 billion, a price-to-earnings ratio of 270.85, a P/E/G ratio of 7.46 and a beta of 4.56. The business has a 50 day simple moving average of $144.13 and a 200-day simple moving average of $140.00.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 EPS 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 company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period last year, the business posted $0.36 EPS. ARM’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts predict that Arm Holdings plc will post 0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ARM. Sanctuary Advisors LLC purchased a new stake in shares of ARM in the second quarter valued at approximately $737,000. Park Avenue Securities LLC boosted its stake in shares of ARM by 8.6% in the third quarter. Park Avenue Securities LLC now owns 2,780 shares of the company’s stock valued at $398,000 after buying an additional 221 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of ARM by 12.4% in the third quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after buying an additional 156 shares in the last quarter. CWM LLC boosted its stake in shares of ARM by 19.6% in the third quarter. CWM LLC now owns 108,372 shares of the company’s stock valued at $15,498,000 after buying an additional 17,769 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in shares of ARM by 14.0% in the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after buying an additional 77 shares in the last quarter. 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.