ARM (NASDAQ:ARM) Shares Down 0.2% – Time to Sell?

Shares of Arm Holdings plc (NASDAQ:ARM) dropped 0.2% during mid-day trading on Friday . The company traded as low as $153.04 and last traded at $154.24. Approximately 1,134,534 shares changed hands during trading, a decline of 90% from the average daily volume of 11,245,849 shares. The stock had previously closed at $154.60.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ARM shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of ARM in a research note on Thursday, August 1st. HSBC cut ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Loop Capital upped their price target on ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. William Blair assumed coverage on ARM in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Raymond James began coverage on ARM in a research note on Friday, September 13th. They set an “outperform” rating and a $160.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.57.

ARM Stock Performance

The firm has a 50 day moving average price of $137.10 and a 200-day moving average price of $135.13. The company has a market cap of $160.35 billion and a P/E ratio of 392.39.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. During the same quarter last year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. On average, sell-side analysts forecast that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Hedge funds have recently bought and sold shares of the company. Veracity Capital LLC lifted its position in shares of ARM by 21.3% during the 3rd quarter. Veracity Capital LLC now owns 3,074 shares of the company’s stock worth $440,000 after purchasing an additional 539 shares during the last quarter. Chicago Capital LLC lifted its holdings in shares of ARM by 9.5% during the third quarter. Chicago Capital LLC now owns 11,619 shares of the company’s stock worth $1,662,000 after buying an additional 1,007 shares during the last quarter. Legacy Financial Strategies LLC bought a new stake in shares of ARM in the third quarter valued at approximately $400,000. Raymond James & Associates grew its stake in shares of ARM by 16.4% in the third quarter. Raymond James & Associates now owns 151,744 shares of the company’s stock worth $21,701,000 after acquiring an additional 21,360 shares during the last quarter. Finally, Blue Trust Inc. increased its position in ARM by 13.1% during the third quarter. Blue Trust Inc. now owns 1,463 shares of the company’s stock worth $209,000 after acquiring an additional 169 shares during the period. 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.