ARM (NASDAQ:ARM) Shares Down 4.4%

Arm Holdings plc (NASDAQ:ARM)’s share price dropped 4.4% during trading on Monday . The company traded as low as 152.55 and last traded at 156.50. Approximately 4,497,346 shares traded hands during trading, a decline of 66% from the average daily volume of 13,290,654 shares. The stock had previously closed at 163.62.

Wall Street Analyst Weigh In

ARM has been the subject of several analyst reports. Susquehanna reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of ARM in a research note on Thursday, April 4th. Mizuho raised their price objective on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. KeyCorp raised their price objective on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. The Goldman Sachs Group raised their price target on ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Finally, Guggenheim raised their price target on ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of 103.68.

ARM Stock Up 2.9 %

The company has a fifty day moving average price of 128.97 and a 200-day moving average price of 112.89.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, beating the consensus estimate of 0.30 by 0.06. ARM had a return on equity of 16.94% and a net margin of 9.46%. The firm had revenue of 928.00 million during the quarter, compared to analyst estimates of 865.94 million. During the same quarter in the previous year, the business earned $0.02 EPS. ARM’s revenue for the quarter was up 46.6% compared to the same quarter last year. Sell-side analysts expect that Arm Holdings plc will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Several large investors have recently bought and sold shares of ARM. HighTower Advisors LLC purchased a new stake in shares of ARM in the third quarter valued at approximately $266,000. PNC Financial Services Group Inc. purchased a new stake in shares of ARM in the third quarter valued at approximately $55,000. Hsbc Holdings PLC purchased a new stake in shares of ARM in the third quarter valued at approximately $219,000. Ancora Advisors LLC purchased a new stake in shares of ARM in the third quarter valued at approximately $32,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of ARM in the third quarter valued at approximately $4,148,000. 7.53% of the stock is currently owned by hedge funds and other 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.