ARM (NASDAQ:ARM) Shares Down 3.3%

Arm Holdings plc (NASDAQ:ARM) fell 3.3% during trading on Friday . The stock traded as low as $118.25 and last traded at $119.08. 2,173,162 shares were traded during trading, a decline of 82% from the average session volume of 12,146,425 shares. The stock had previously closed at $123.09.

Analysts Set New Price Targets

ARM has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $107.00 to $190.00 in a research report on Friday, July 19th. Finally, Barclays upped their target price on ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.56.

ARM Stock Performance

The stock has a market cap of $122.90 billion and a price-to-earnings ratio of 131.64. The stock has a fifty day simple moving average of $143.06 and a two-hundred day simple moving average of $132.75.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 earnings per share. Equities analysts expect that Arm Holdings plc will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schroder Investment Management Group bought a new stake in shares of ARM during the fourth quarter worth $480,194,000. Mubadala Investment Co PJSC bought a new stake in ARM during the 4th quarter worth $150,437,000. Wellington Management Group LLP increased its holdings in ARM by 56.4% in the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after purchasing an additional 1,611,926 shares in the last quarter. Robeco Schweiz AG increased its holdings in ARM by 220.3% in the 4th quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after purchasing an additional 1,465,000 shares in the last quarter. Finally, Capstone Investment Advisors LLC raised its position in ARM by 362.6% in the fourth quarter. Capstone Investment Advisors LLC now owns 902,000 shares of the company’s stock valued at $67,781,000 after purchasing an additional 707,000 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

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.