ARM (NASDAQ:ARM) Stock Price Up 5%

Arm Holdings plc (NASDAQ:ARM) shares traded up 5% on Friday . The company traded as high as $138.05 and last traded at $136.19. 3,252,768 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 12,476,957 shares. The stock had previously closed at $129.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays upped their target price on shares of ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their target price on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Finally, Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.56.

ARM Price Performance

The firm’s 50-day simple moving average is $150.43 and its two-hundred day simple moving average is $132.36. The company has a market capitalization of $142.12 billion and a price-to-earnings ratio of 138.24.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. During the same period last year, the company posted $0.24 EPS. The company’s revenue was up 39.1% on a year-over-year basis. On average, analysts expect that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ARM. Mark Sheptoff Financial Planning LLC purchased a new stake in ARM in the 1st quarter worth approximately $25,000. Transcendent Capital Group LLC acquired a new stake in shares of ARM during the second quarter worth $33,000. SOA Wealth Advisors LLC. purchased a new stake in shares of ARM in the first quarter valued at $35,000. RiverPark Advisors LLC increased its stake in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in ARM during the second quarter worth about $41,000. 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.