ARM (NASDAQ:ARM) Shares Up 0.7% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) shares shot up 0.7% during mid-day trading on Wednesday . The stock traded as high as $146.20 and last traded at $144.67. 1,617,847 shares were traded during mid-day trading, a decline of 86% from the average session volume of 11,432,097 shares. The stock had previously closed at $143.60.

Analysts Set New Price Targets

Several research firms have issued reports on ARM. Evercore ISI lifted their price target on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a report on Thursday, August 8th. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group raised their price objective on shares of ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Guggenheim lifted their price target on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $125.96.

ARM Stock Up 1.7 %

The firm’s fifty day moving average price is $131.58 and its two-hundred day moving average price is $133.77. The stock has a market capitalization of $153.06 billion and a PE ratio of 147.06.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. During the same period in the previous year, the company earned $0.24 earnings per share. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. As a group, analysts predict that Arm Holdings plc will post 0.86 EPS for the current year.

Institutional Trading of ARM

Large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC grew its position in ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the period. Mizuho Securities Co. Ltd. grew its position in ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after buying an additional 11,220 shares during the period. Itau Unibanco Holding S.A. bought a new stake in ARM during the second quarter valued at approximately $4,090,000. Rheos Capital Works Inc. boosted its position in shares of ARM by 48.1% in the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after purchasing an additional 83,400 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of ARM in the first quarter worth approximately $222,000. 7.53% of the stock is currently 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.