ARM (NASDAQ:ARM) Shares Down 0.8% – Should You Sell?

Arm Holdings plc (NASDAQ:ARM) was down 0.8% during mid-day trading on Thursday . The stock traded as low as $145.02 and last traded at $147.23. Approximately 1,223,354 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 11,399,695 shares. The stock had previously closed at $148.43.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ARM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, August 1st. William Blair started coverage on ARM in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Barclays upped their target price on shares of ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.91.

ARM Stock Performance

The company has a 50 day moving average of $132.98 and a two-hundred day moving average of $134.07. The stock has a market capitalization of $158.70 billion and a PE ratio of 388.37.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s revenue was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, research analysts predict that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mubadala Investment Co PJSC acquired a new stake in shares of ARM in the fourth quarter worth $150,437,000. Wellington Management Group LLP grew its position in ARM by 56.4% during the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after purchasing an additional 1,611,926 shares during the period. Sei Investments Co. raised its stake in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares during the last quarter. State of Michigan Retirement System acquired a new position in shares of ARM in the 1st quarter valued at about $28,523,000. Finally, Marsico Capital Management LLC purchased a new stake in shares of ARM in the second quarter worth about $33,207,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.