ARM (NASDAQ:ARM) Stock Price Up 0.6% - Here's Why

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s stock price rose 0.6% during mid-day trading on Thursday . The company traded as high as $148.25 and last traded at $145.20. Approximately 3,403,991 shares traded hands during trading, a decline of 37% from the average daily volume of 5,403,344 shares. The stock had previously closed at $144.38.

Analysts Set New Price Targets

Several research firms have weighed in on ARM. JPMorgan Chase & Co. increased their price objective on ARM from $140.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a report on Thursday, November 7th. UBS Group assumed coverage on shares of ARM in a research report on Monday, November 25th. They set a "buy" rating and a $160.00 price objective on the stock. Benchmark began coverage on shares of ARM in a research note on Monday, September 16th. They set a "hold" rating on the stock. Finally, Sanford C. Bernstein lowered shares of ARM from a "market perform" rating to an "underperform" rating and set a $100.00 price objective for the company. in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ARM has a consensus rating of "Moderate Buy" and an average target price of $150.32.

ARM Price Performance

The stock has a market cap of $152.15 billion, a PE ratio of 242.00, a PEG ratio of 7.15 and a beta of 4.53. The company has a 50 day moving average price of $137.38 and a two-hundred day moving average price of $142.12.

ARM (NASDAQ:ARM - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.04. The business 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%. ARM's revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 EPS. As a group, equities analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Several hedge funds and other institutional investors have recently modified their holdings of ARM. ORG Partners LLC purchased a new stake in ARM during the third quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of ARM by 83.0% in 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 in the last quarter. Alta Advisers Ltd bought a new position in ARM in the 2nd quarter worth $49,000. Quantbot Technologies LP bought a new position in shares of ARM in the third quarter worth about $52,000. Finally, Farther Finance Advisors LLC lifted its holdings in ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company's stock valued at $60,000 after purchasing an additional 131 shares in the last quarter. 7.53% of the stock is owned by 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.