Arm Holdings plc (NASDAQ:ARM – Get Free Report) shares fell 0.6% during mid-day trading on Tuesday . The stock traded as low as $124.65 and last traded at $125.17. 621,236 shares changed hands during trading, a decline of 94% from the average session volume of 10,044,774 shares. The stock had previously closed at $125.91.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group assumed coverage on shares of ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. Wells Fargo & Company started coverage on shares of ARM in a research report on Friday, November 22nd. They issued an “overweight” rating and a $155.00 price target for the company. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, Susquehanna lifted their target price on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $150.32.
Check Out Our Latest Stock Analysis on ARM
ARM Stock Down 1.0 %
ARM (NASDAQ:ARM – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities research analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ARM
A number of institutional investors and hedge funds have recently made changes to their positions in ARM. Franklin Resources Inc. increased its position in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the period. International Assets Investment Management LLC increased its holdings in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares during the period. Sei Investments Co. increased its holdings in shares of ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares during the last quarter. Finally, Mark Asset Management LP lifted its holdings in shares of ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after purchasing an additional 29,686 shares during the period. 7.53% of the stock is owned by hedge funds and other 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.
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