ARM (NASDAQ:ARM) Shares Down 0.2% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s share price was down 0.2% during mid-day trading on Friday . The stock traded as low as $165.33 and last traded at $166.29. Approximately 2,248,875 shares traded hands during trading, a decline of 67% from the average daily volume of 6,857,441 shares. The stock had previously closed at $166.56.

Analyst Ratings Changes

Several research analysts recently issued reports on ARM shares. The Goldman Sachs Group raised their target price on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Loop Capital lifted their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price objective on shares of ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.09.

ARM Stock Down 1.3 %

The stock has a market capitalization of $172.33 billion, a price-to-earnings ratio of 274.67, a price-to-earnings-growth ratio of 8.41 and a beta of 4.53. The business’s 50-day moving average is $139.32 and its two-hundred day moving average is $141.18.

ARM (NASDAQ:ARM) last posted its 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. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. As a group, analysts forecast that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently bought and sold shares of ARM. Franklin Resources Inc. lifted its holdings in shares of ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after acquiring an additional 228,467 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after acquiring an additional 806,676 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares during the last quarter. Mark Asset Management LP increased its stake in ARM by 14.2% during the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after buying an additional 29,686 shares during the period. Finally, State Street Corp increased its stake in ARM by 19.2% during the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after buying an additional 35,720 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.