ARM (NASDAQ:ARM) Trading Down 0.8% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) dropped 0.8% during mid-day trading on Monday . The company traded as low as $126.36 and last traded at $127.72. Approximately 1,606,054 shares were traded during trading, a decline of 85% from the average daily volume of 10,763,225 shares. The stock had previously closed at $128.73.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ARM shares. Citigroup lifted their target price on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. TD Cowen lifted their target price on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their target price on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Stock Up 3.4 %

The company has a market capitalization of $139.42 billion, a price-to-earnings ratio of 221.77, a P/E/G ratio of 6.43 and a beta of 5.40. The company’s 50 day simple moving average is $143.78 and its two-hundred day simple moving average is $140.30.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $810.03 million. During the same period last year, the firm earned $0.36 earnings per share. ARM’s revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Investors Weigh In On ARM

Several institutional investors and hedge funds have recently made changes to their positions in ARM. KP Management LLC lifted its position in ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares during the period. Willner & Heller LLC lifted its position in ARM by 193.7% during the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after purchasing an additional 4,484 shares during the period. Lazard Asset Management LLC lifted 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 purchasing an additional 20,117 shares during the period. United Advisor Group LLC acquired a new position in ARM during the third quarter valued at $545,000. Finally, Mizuho Securities Co. Ltd. lifted 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 purchasing an additional 11,220 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.