ARM (NASDAQ:ARM) Stock Price Up 3% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shares rose 3% on Friday . The company traded as high as $145.35 and last traded at $145.33. Approximately 2,153,312 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 11,111,327 shares. The stock had previously closed at $141.04.

Analyst Ratings Changes

ARM has been the subject of several research reports. Sanford C. Bernstein upgraded shares of ARM from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $92.00 to $100.00 in a report on Wednesday, August 7th. Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a report on Thursday, August 8th. TD Cowen upgraded ARM to a “strong-buy” rating in a report on Monday, September 16th. Loop Capital boosted their target price on ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Benchmark assumed coverage on ARM in a research note on Monday, September 16th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

ARM Stock Performance

The company’s 50 day moving average is $139.19 and its 200 day moving average is $135.86. The stock has a market capitalization of $150.63 billion and a price-to-earnings ratio of 368.60.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating 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 analyst estimates of $905.53 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. On average, equities research analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Institutional Trading of ARM

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after buying an additional 806,676 shares in the last quarter. Sei Investments Co. boosted its position in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after acquiring an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares during the period. State of Michigan Retirement System acquired a new position in ARM in the first quarter worth about $28,523,000. Finally, Marsico Capital Management LLC acquired a new stake in ARM during the second quarter valued at approximately $33,207,000. 7.53% of the stock is currently owned by institutional investors.

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.