ARM (NASDAQ:ARM) Trading Up 3.5%

Arm Holdings plc (NASDAQ:ARM) shares were up 3.5% during trading on Wednesday . The stock traded as high as $149.74 and last traded at $148.37. Approximately 3,325,476 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 11,804,136 shares. The stock had previously closed at $143.30.

Analyst Upgrades and Downgrades

ARM has been the topic of several recent research reports. TD Cowen raised shares of ARM to a “strong-buy” rating in a research report on Monday, September 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, August 1st. Guggenheim raised their price target on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Morgan Stanley raised shares of ARM from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $107.00 to $190.00 in a research report on Friday, July 19th. Finally, The Goldman Sachs Group raised their price target on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.96.

ARM Stock Up 1.6 %

The firm’s 50-day moving average is $134.13 and its 200-day moving average is $132.91. The company has a market cap of $152.52 billion and a PE ratio of 150.77.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. As a group, equities research analysts anticipate that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC grew its holdings in shares of ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. lifted its position in ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after purchasing an additional 11,220 shares during the period. Itau Unibanco Holding S.A. bought a new position in ARM during the second quarter valued at approximately $4,090,000. Rheos Capital Works Inc. lifted its position in ARM by 48.1% during the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after purchasing an additional 83,400 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new position in ARM during the first quarter valued at approximately $222,000. 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.