ARM (NASDAQ:ARM) Shares Down 2.5% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s stock price traded down 2.5% during mid-day trading on Thursday . The stock traded as low as $129.60 and last traded at $133.37. 5,498,108 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 10,576,457 shares. The stock had previously closed at $136.72.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Thursday, August 8th. Susquehanna raised their target price on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Benchmark assumed coverage on shares of ARM in a report on Monday, September 16th. They issued a “hold” rating for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Stock Up 0.7 %

The company’s 50 day moving average price is $142.98 and its 200 day moving average price is $141.33. The firm has a market capitalization of $140.71 billion, a price-to-earnings ratio of 223.82, a P/E/G ratio of 6.66 and a beta of 5.40.

ARM (NASDAQ:ARM) last posted its quarterly 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. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Arm Holdings plc will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Several hedge funds and other institutional investors have recently bought and sold shares of ARM. Franklin Resources Inc. boosted its holdings in ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in ARM during the third quarter worth about $419,000. Virtu Financial LLC acquired a new stake in ARM during the third quarter worth about $1,163,000. Hobbs Group Advisors LLC raised its position in ARM by 7.4% during the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after acquiring an additional 100 shares in the last quarter. Finally, Fortem Financial Group LLC lifted its holdings in ARM by 6.4% in the third quarter. Fortem Financial Group LLC now owns 7,200 shares of the company’s stock valued at $1,030,000 after acquiring an additional 430 shares during the period. Institutional investors and hedge funds 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.