ARM (NASDAQ:ARM) Stock Price Up 4.7% - Here's What Happened

Arm Holdings plc (NASDAQ:ARM - Get Free Report) shares traded up 4.7% during trading on Wednesday . The stock traded as high as $147.25 and last traded at $146.60. 1,762,791 shares were traded during mid-day trading, a decline of 59% from the average session volume of 4,249,685 shares. The stock had previously closed at $140.06.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Loop Capital lifted their price target on ARM from $130.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Evercore ISI upped their price target on shares of ARM from $173.00 to $176.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Sanford C. Bernstein cut shares of ARM from a "market perform" rating to an "underperform" rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. UBS Group began coverage on shares of ARM in a research report on Monday, November 25th. They set a "buy" rating and a $160.00 target price on the stock. Finally, Wells Fargo & Company lifted their price target on shares of ARM from $155.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday. Two 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, ARM has a consensus rating of "Moderate Buy" and an average price target of $150.64.

ARM Stock Up 5.2 %

The firm has a market cap of $154.45 billion, a price-to-earnings ratio of 245.67, a PEG ratio of 7.15 and a beta of 4.53. The firm has a fifty day moving average price of $137.34 and a 200-day moving average price of $141.38.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 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 during the quarter, compared to analysts' expectations of $810.03 million. During the same quarter in the previous year, the business earned $0.36 EPS. The firm's revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in shares of ARM by 14,351.1% in the 3rd 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. raised its holdings in shares of 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 purchasing an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ARM by 186.8% in the 3rd 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 in the last quarter. Franklin Resources Inc. grew its holdings in shares of ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company's stock worth $183,265,000 after purchasing an additional 228,467 shares during the period. Finally, Marsico Capital Management LLC acquired a new stake in ARM during the 2nd quarter worth approximately $33,207,000. Institutional investors and hedge funds 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.