ARM (NASDAQ:ARM) Trading Up 2% - Here's What Happened

Key Points

• ARM's share price increased by 2% during mid-day trading, reaching a high of $161.00 before closing at $159.35.
• BNP Paribas upgraded ARM's rating to outperform and raised the price target to $210.00, while consensus estimates show a Moderate Buy rating with an average price target of $168.52.
• ARM reported $0.35 EPS for the last quarter, beating analyst estimates, and achieved a 12.1% increase in year-over-year revenue.

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Get Free Report)'s share price was up 2% during mid-day trading on Tuesday . The company traded as high as $161.00 and last traded at $159.35. Approximately 5,157,597 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 5,273,769 shares. The stock had previously closed at $156.22.

Analyst Ratings Changes

A number of analysts have recently commented on ARM shares. BNP Paribas upgraded shares of ARM from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $110.00 to $210.00 in a research note on Wednesday, July 16th. Morgan Stanley increased their price target on ARM from $150.00 to $194.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Rosenblatt Securities reiterated a "buy" rating and set a $180.00 price objective on shares of ARM in a research report on Thursday, July 31st. Raymond James Financial raised their target price on ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, BNP Paribas Exane upgraded shares of ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $168.52.

ARM Price Performance

The stock has a 50-day moving average price of $142.86 and a two-hundred day moving average price of $134.11. The stock has a market cap of $168.35 billion, a PE ratio of 241.44, a price-to-earnings-growth ratio of 9.28 and a beta of 4.10.

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

Hedge Funds Weigh In On ARM

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of 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 buying an additional 97 shares in the last quarter. TFC Financial Management Inc. increased its stake in ARM by 163.4% during the first quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after acquiring an additional 165 shares during the last quarter. Brooklyn Investment Group purchased a new stake in ARM during the first quarter valued at approximately $28,000. Huntington National Bank bought a new stake in shares of ARM in the 2nd quarter valued at 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. 7.53% of the stock is owned by hedge funds and other institutional investors.

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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