ARM (NASDAQ:ARM) Shares Up 5.1% – Should You Buy?

Arm Holdings plc (NASDAQ:ARM)’s stock price shot up 5.1% on Friday . The stock traded as high as $135.23 and last traded at $134.78. 1,963,837 shares were traded during mid-day trading, a decline of 27% from the average session volume of 2,703,700 shares. The stock had previously closed at $128.20.

Analysts Set New Price Targets

A number of research firms have issued reports on ARM. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Barclays boosted their target price on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Raymond James assumed coverage on ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price target on the stock. Wells Fargo & Company assumed coverage on ARM in a report on Friday, November 22nd. They issued an “overweight” rating and a $155.00 price objective for the company. Finally, Evercore ISI raised their target price on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two 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 company. According to MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and an average target price of $150.32.

ARM Trading Up 10.0 %

The company has a market cap of $147.83 billion, a PE ratio of 235.14, a price-to-earnings-growth ratio of 7.15 and a beta of 4.67. The business has a fifty day simple moving average of $137.80 and a two-hundred day simple moving average of $142.50.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $810.03 million. During the same quarter in the prior year, the company earned $0.36 EPS. ARM’s revenue was up 4.7% compared to the same quarter last year. Equities analysts expect that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC increased its holdings in ARM by 14.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after purchasing an additional 77 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of ARM by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after buying an additional 100 shares in the last quarter. Hobbs Group Advisors LLC raised its holdings in shares of ARM by 7.4% in the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after buying an additional 100 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in ARM by 5.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock valued at $281,000 after acquiring an additional 102 shares during the period. Finally, Gilliland Jeter Wealth Management LLC grew its position in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.