ARM (NASDAQ:ARM) Trading 4.7% Higher - Here's Why

Key Points

• ARM Holdings PLC shares rose by 4.7% during mid-day trading, reaching a last trading price of $166.77, with trading volume significantly up by 66% from average levels.
• Several analysts have issued reports on ARM, with target prices varying, including a notable upgrade from BNP Paribas to $210.00, while the stock holds a consensus rating of "Moderate Buy."
• Despite reporting an increase in quarterly revenue of 12.1% year-over-year, ARM's earnings per share slightly exceeded estimates at $0.35, showing resilience amid market fluctuations.

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Get Free Report) rose 4.7% during mid-day trading on Wednesday . The stock traded as high as $168.51 and last traded at $166.77. Approximately 8,780,706 shares were traded during mid-day trading, an increase of 66% from the average daily volume of 5,281,990 shares. The stock had previously closed at $159.35.

Wall Street Analyst Weigh In

ARM has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on shares of ARM in a research note on Thursday, July 10th. They issued a "neutral" rating and a $160.00 target price on the stock. Wells Fargo & Company upped their target price on shares of ARM from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a research note on Thursday, July 31st. BNP Paribas upgraded shares of ARM from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $110.00 to $210.00 in a research note on Wednesday, July 16th. Finally, Evercore ISI boosted their price objective on shares of ARM from $173.00 to $178.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ARM currently has a consensus rating of "Moderate Buy" and an average target price of $168.52.

ARM Stock Up 4.7%

The stock's 50 day moving average price is $142.78 and its 200-day moving average price is $134.29. The stock has a market capitalization of $176.19 billion, a PE ratio of 252.68, a PEG ratio of 9.50 and a beta of 4.10.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share. On average, analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Several hedge funds and other institutional investors have recently made changes to their positions in ARM. GAMMA Investing LLC increased its position in ARM by 126.0% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company's stock valued at $25,000 after purchasing an additional 97 shares during the period. TFC Financial Management Inc. grew its position in shares of ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after buying an additional 165 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of ARM in the 1st quarter worth approximately $28,000. Huntington National Bank purchased a new position in shares of ARM in the 2nd quarter worth approximately $30,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of ARM in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 7.53% of the company's stock.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.

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