ARM (NASDAQ:ARM) Trading Up 0.9% - Time to Buy?

Shares of Arm Holdings plc (NASDAQ:ARM - Get Free Report) were up 0.9% during trading on Friday . The stock traded as high as $133.61 and last traded at $133.28. Approximately 1,465,053 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 10,188,211 shares. The stock had previously closed at $132.10.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARM. Loop Capital lifted their price objective on shares of ARM from $130.00 to $180.00 and gave the company a "buy" rating in a report on Monday, November 11th. Sanford C. Bernstein downgraded shares of ARM from a "market perform" rating to an "underperform" rating and set a $100.00 price target for the company. in a research note on Thursday, October 31st. The Goldman Sachs Group increased their price objective on ARM from $144.00 to $159.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. TD Cowen raised their price objective on ARM from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, UBS Group started coverage on ARM in a report on Monday, November 25th. They issued a "buy" rating and a $160.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $150.32.

ARM Stock Performance

The company has a 50 day moving average of $142.07 and a two-hundred day moving average of $143.84. The stock has a market capitalization of $138.47 billion, a PE ratio of 220.25, a P/E/G ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter last year, the company earned $0.36 earnings per share. The company's quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts predict that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Large investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. raised its stake in shares of ARM by 26.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,243 shares of the company's stock worth $367,000 after purchasing an additional 468 shares during the last quarter. Brookstone Capital Management acquired a new stake in ARM during the 2nd quarter valued at approximately $203,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in ARM by 172.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 21,440 shares of the company's stock valued at $3,508,000 after acquiring an additional 13,574 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of ARM by 57.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 71,295 shares of the company's stock valued at $11,665,000 after acquiring an additional 26,051 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its stake in shares of ARM by 17.3% in the second quarter. Atria Wealth Solutions Inc. now owns 11,334 shares of the company's stock worth $1,854,000 after acquiring an additional 1,675 shares during the period. 7.53% of the stock is 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.