ARM (NASDAQ:ARM) Shares Down 0.8% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price was down 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 traded hands during trading, a decline of 85% from the average daily volume of 10,763,225 shares. The stock had previously closed at $128.73.

Analysts Set New Price Targets

Several equities research analysts have commented on ARM shares. Susquehanna boosted their target price on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Loop Capital boosted their price target on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. William Blair started coverage on shares of ARM in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Raymond James initiated coverage on ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 target price on the stock. Finally, Benchmark began coverage on ARM in a research report on Monday, September 16th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Trading Down 0.7 %

The stock’s 50-day moving average is $143.60 and its two-hundred day moving average is $139.86. The company has a market capitalization of $133.89 billion, a PE ratio of 212.87, a price-to-earnings-growth ratio of 6.43 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same period last year, the company earned $0.36 EPS. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Several large investors have recently added to or reduced their stakes in the stock. ORG Partners LLC purchased a new stake in shares of ARM in the 3rd quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new stake in ARM during the 2nd quarter valued at $33,000. Gilliland Jeter Wealth Management LLC increased its holdings in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares during the period. RiverPark Advisors LLC raised its position in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of ARM during the 2nd quarter worth $41,000. 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.