ARM (NASDAQ:ARM) Stock Price Up 2.1% - Time to Buy?

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s share price was up 2.1% on Monday . The company traded as high as $142.42 and last traded at $140.89. Approximately 3,394,674 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 4,279,580 shares. The stock had previously closed at $137.95.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. William Blair assumed coverage on ARM in a report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Loop Capital lifted their price target on shares of ARM from $130.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Benchmark initiated coverage on shares of ARM in a research report on Monday, September 16th. They issued a "hold" rating for the company. Susquehanna lifted their target price on shares of ARM from $115.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ARM in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ARM has a consensus rating of "Moderate Buy" and a consensus target price of $150.32.

ARM Price Performance

The stock's fifty day simple moving average is $142.48 and its 200-day simple moving average is $142.67. The stock has a market cap of $147.63 billion, a P/E ratio of 234.82, a PEG ratio of 7.03 and a beta of 4.71.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank boosted its stake in ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company's stock valued at $222,000 after purchasing an additional 103 shares in the last quarter. Cetera Advisors LLC acquired a new position in ARM during the first quarter worth about $726,000. GPS Wealth Strategies Group LLC raised its position in ARM by 181.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 9,916 shares of the company's stock worth $1,622,000 after acquiring an additional 6,390 shares in the last quarter. Tsfg LLC lifted its holdings in ARM by 953.3% in the 2nd quarter. Tsfg LLC now owns 3,002 shares of the company's stock valued at $491,000 after acquiring an additional 2,717 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of ARM by 26.4% in the 2nd 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. Institutional investors own 7.53% of the company's stock.

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.

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