ARM (NASDAQ:ARM) Stock Price Down 0.1% – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s share price traded down 0.1% on Friday . The company traded as low as $131.90 and last traded at $133.05. 1,090,347 shares were traded during trading, a decline of 90% from the average session volume of 10,649,838 shares. The stock had previously closed at $133.14.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI raised their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Benchmark started coverage on ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Finally, Barclays lifted their target price on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ARM has a consensus rating of “Moderate Buy” and an average target price of $149.86.

ARM Stock Up 2.1 %

The stock has a market cap of $142.49 billion, a P/E ratio of 226.65, a P/E/G ratio of 6.65 and a beta of 5.40. The company has a 50-day simple moving average of $143.30 and a two-hundred day simple moving average of $140.63.

ARM (NASDAQ:ARM) last announced its quarterly 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 business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter in the prior year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in shares of ARM by 14,351.1% during 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 buying an additional 806,676 shares during the period. Sei Investments Co. boosted its holdings in 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 acquiring an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares in the last quarter. Marsico Capital Management LLC purchased a new position in ARM during the 2nd quarter valued at $33,207,000. Finally, ProShare Advisors LLC bought a new position in ARM in the 2nd quarter worth $16,611,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.