ARM (NASDAQ:ARM) Trading 1.3% Higher - Here's Why

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s share price shot up 1.3% during mid-day trading on Thursday . The company traded as high as $138.79 and last traded at $136.81. 1,611,963 shares were traded during mid-day trading, a decline of 85% from the average session volume of 10,807,219 shares. The stock had previously closed at $135.09.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Loop Capital increased their price objective on ARM from $130.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday. Barclays raised their target price on shares of ARM from $125.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Evercore ISI increased their price target on shares of ARM from $173.00 to $176.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ARM from $82.00 to $105.00 and gave the stock a "hold" rating in a report on Thursday, August 1st. Finally, Daiwa Capital Markets raised ARM from a "neutral" rating to an "outperform" rating and set a $130.00 target price on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.95.

ARM Trading Up 1.1 %

The firm has a 50 day moving average price of $143.11 and a 200 day moving average price of $139.12. The stock has a market capitalization of $143.04 billion, a PE ratio of 228.02, a price-to-earnings-growth ratio of 6.39 and a beta of 5.40.

ARM (NASDAQ:ARM - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter last year, the company earned $0.36 EPS. The firm's quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Arm Holdings plc will post 0.86 EPS for the current year.

Institutional Investors Weigh In On ARM

Several large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its holdings in shares of ARM by 14,351.1% in 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 during the period. Sei Investments Co. grew its stake in ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company's stock worth $94,790,000 after acquiring an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 purchasing an additional 233,909 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in ARM by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company's stock worth $36,366,000 after purchasing an additional 14,584 shares during the period. Finally, Mark Asset Management LP lifted its holdings in shares of ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company's stock worth $39,038,000 after buying an additional 29,686 shares during the period. 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.

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