ARM (NASDAQ:ARM) Shares Up 5.1% - Still a Buy?

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s share price rose 5.1% during mid-day trading on Friday . The company traded as high as $135.23 and last traded at $134.78. Approximately 1,963,837 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 2,703,700 shares. The stock had previously closed at $128.20.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ARM shares. Benchmark assumed coverage on shares of ARM in a research note on Monday, September 16th. They set a "hold" rating for the company. The Goldman Sachs Group boosted their price target on shares of ARM from $144.00 to $159.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. 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, November 11th. JPMorgan Chase & Co. boosted their target price on ARM from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Finally, Raymond James began coverage on ARM in a research note on Friday, September 13th. They issued an "outperform" rating and a $160.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.32.

ARM Trading Up 10.0 %

The stock has a 50 day simple moving average of $137.85 and a 200 day simple moving average of $142.85. The firm has a market capitalization of $147.83 billion, a PE ratio of 235.14, a PEG ratio of 7.15 and a beta of 4.67.

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 analysts' consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the business posted $0.36 EPS. The firm's revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On ARM

A number of large investors have recently made changes to their positions in the business. ORG Partners LLC bought a new stake in shares of ARM during the 3rd quarter valued at about $29,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company's stock worth $37,000 after acquiring an additional 117 shares during the period. Larson Financial Group LLC bought a new position in shares of ARM in the 2nd quarter worth approximately $47,000. Alta Advisers Ltd purchased a new position in shares of ARM in the 2nd quarter valued at approximately $49,000. Finally, Quantbot Technologies LP bought a new stake in shares of ARM during the third quarter valued at approximately $52,000. 7.53% of the stock is currently owned by institutional investors.

About ARM

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.