ARM (NASDAQ:ARM) Shares Up 0.7% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shares rose 0.7% during trading on Tuesday . The company traded as high as $142.30 and last traded at $141.30. Approximately 884,118 shares changed hands during trading, a decline of 92% from the average daily volume of 10,477,755 shares. The stock had previously closed at $140.34.

Wall Street Analysts Forecast Growth

ARM has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” 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. Benchmark initiated coverage on shares of ARM in a research report on Monday, September 16th. They issued a “hold” rating for the company. Evercore ISI upped their price target on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $150.32.

ARM Stock Performance

The firm has a market capitalization of $146.78 billion, a price-to-earnings ratio of 235.50, a PEG ratio of 6.71 and a beta of 4.71. The firm’s 50 day simple moving average is $142.98 and its 200 day simple moving average is $141.70.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. ARM’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. As a group, sell-side analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in shares of ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of ARM during the third quarter worth $419,000. Virtu Financial LLC purchased a new position in ARM during the third quarter worth approximately $1,163,000. Hobbs Group Advisors LLC grew its holdings in shares of ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after purchasing an additional 100 shares during the period. Finally, Fortem Financial Group LLC increased its stake in ARM by 6.4% during the third quarter. Fortem Financial Group LLC now owns 7,200 shares of the company’s stock worth $1,030,000 after acquiring an additional 430 shares during the last quarter. Hedge funds and other institutional investors 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.