ARM (NASDAQ:ARM) Stock Price Up 3.8% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) were up 3.8% during mid-day trading on Tuesday . The stock traded as high as $132.31 and last traded at $131.66. Approximately 1,783,599 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 10,164,514 shares. The stock had previously closed at $126.87.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a report on Thursday, October 31st. Loop Capital boosted their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Barclays raised their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Raymond James initiated coverage on ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $150.32.

ARM Trading Up 3.9 %

The company has a market cap of $138.09 billion, a price-to-earnings ratio of 219.65, a P/E/G ratio of 7.15 and a beta of 4.67. The business has a fifty day moving average price of $140.58 and a two-hundred day moving average price of $143.82.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC increased its holdings in shares of ARM by 14.0% in the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after acquiring an additional 77 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in ARM by 1.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after acquiring an additional 100 shares during the period. Hobbs Group Advisors LLC boosted 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 purchasing an additional 100 shares in the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of ARM by 5.5% in 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 last quarter. Finally, Gilliland Jeter Wealth Management LLC raised its position in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares during the last quarter. 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.