ARM (NASDAQ:ARM) Trading Down 4.4%

Arm Holdings plc (NASDAQ:ARM)’s stock price was down 4.4% during mid-day trading on Monday . The company traded as low as 152.55 and last traded at 156.50. Approximately 4,497,346 shares traded hands during trading, a decline of 66% from the average daily volume of 13,290,654 shares. The stock had previously closed at 163.62.

Wall Street Analyst Weigh In

Several research firms recently commented on ARM. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, May 9th. Mizuho increased their price objective on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. KeyCorp lifted their target price on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Guggenheim increased their price target on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Evercore ISI cut their price objective on ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of 103.68.

ARM Price Performance

The business has a 50 day moving average price of 126.31 and a two-hundred day moving average price of 111.61.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, topping the consensus estimate of 0.30 by 0.06. ARM had a return on equity of 16.94% and a net margin of 9.46%. The business had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. During the same period in the prior year, the company posted $0.02 EPS. The firm’s revenue for the quarter was up 46.6% compared to the same quarter last year. On average, research analysts forecast that Arm Holdings plc will post 0.85 EPS for the current year.

Institutional Investors Weigh In On ARM

Hedge funds have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC purchased a new position in ARM in the first quarter worth about $25,000. Ancora Advisors LLC bought a new position in shares of ARM during the 3rd quarter valued at approximately $32,000. SOA Wealth Advisors LLC. purchased a new stake in ARM during the 1st quarter valued at $35,000. Naples Money Management LLC lifted its position in ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after buying an additional 110 shares during the last quarter. Finally, Westside Investment Management Inc. purchased a new position in ARM during the third quarter worth $43,000. 7.53% of the stock is currently owned by hedge funds and other 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.