ARM (NASDAQ:ARM) Stock Price Up 3.9% – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s share price traded up 3.9% during trading on Wednesday . The company traded as high as $133.11 and last traded at $131.79. 3,464,234 shares were traded during mid-day trading, a decline of 66% from the average session volume of 10,172,099 shares. The stock had previously closed at $126.87.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. William Blair started coverage on ARM in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Benchmark began coverage on ARM in a research report on Monday, September 16th. They issued a “hold” rating for the company. UBS Group started coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 target price on the stock. TD Cowen increased their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Raymond James began coverage on shares of ARM in a report on Friday, September 13th. They set an “outperform” rating and a $160.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Stock Down 1.6 %

The firm has a fifty day moving average price of $140.08 and a 200 day moving average price of $143.73. The company has a market cap of $135.89 billion, a P/E ratio of 216.15, a PEG ratio of 7.15 and a beta of 4.67.

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

Hedge Funds Weigh In On ARM

Several hedge funds have recently added to or reduced their stakes in ARM. Bank of New York Mellon Corp lifted its position in ARM by 97.2% during 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 purchasing an additional 58,216 shares during the period. Atomi Financial Group Inc. bought a new position in ARM in the second quarter valued at approximately $261,000. Arkadios Wealth Advisors bought a new position in ARM in the second quarter valued at approximately $592,000. Ameritas Advisory Services LLC grew its holdings in ARM by 12.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 6,809 shares of the company’s stock worth $1,114,000 after acquiring an additional 777 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of ARM during the 2nd quarter valued at $245,000. Institutional investors own 7.53% of the company’s stock.

About ARM

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.