ARM (NASDAQ:ARM) Trading Down 1% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) shares traded down 1% during mid-day trading on Tuesday . The stock traded as low as $147.03 and last traded at $147.83. 1,241,637 shares changed hands during trading, a decline of 71% from the average session volume of 4,270,241 shares. The stock had previously closed at $149.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ARM shares. JPMorgan Chase & Co. raised their target price on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI upped their target price on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a report on Thursday, October 31st. Barclays increased their price objective on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Susquehanna upped their target price on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.09.

ARM Stock Down 7.4 %

The stock has a 50 day simple moving average of $138.72 and a 200 day simple moving average of $141.01. The company has a market capitalization of $174.53 billion, a price-to-earnings ratio of 277.60, a P/E/G ratio of 7.25 and a beta of 4.53.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 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 the consensus estimate of $810.03 million. During the same period in the prior year, the business earned $0.36 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, analysts forecast that Arm Holdings plc will post 0.84 EPS for the current year.

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Modus Advisors LLC lifted its holdings in shares of ARM by 300.2% in the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after buying an additional 13,453 shares during the period. KP Management LLC lifted its holdings in ARM by 28.6% in the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after acquiring an additional 10,000 shares during the last quarter. XTX Topco Ltd boosted its position in shares of ARM by 150.1% during the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock valued at $928,000 after purchasing an additional 3,893 shares in the last quarter. Willner & Heller LLC grew its stake in shares of ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after purchasing an additional 4,484 shares during the last quarter. Finally, Avalon Global Asset Management LLC bought a new stake in shares of ARM in the 3rd quarter worth approximately $8,581,000. 7.53% of the stock is currently owned by 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.