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

Arm Holdings plc (NASDAQ:ARM) shares fell 2.5% during trading on Friday . The stock traded as low as $129.60 and last traded at $133.37. 5,498,108 shares were traded during trading, a decline of 5% from the average session volume of 5,758,661 shares. The stock had previously closed at $136.72.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ARM shares. Evercore ISI lifted their price objective on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Susquehanna boosted their price target on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research note on Thursday, October 31st. Benchmark began coverage on ARM in a research note on Monday, September 16th. They issued a “hold” rating on the stock. Finally, Raymond James assumed coverage on ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Price Performance

The business has a 50 day moving average of $142.98 and a 200 day moving average of $141.50. The firm has a market capitalization of $140.71 billion, a price-to-earnings ratio of 223.82, a price-to-earnings-growth ratio of 6.66 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. On average, sell-side analysts forecast that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after buying an additional 228,467 shares in the last quarter. International Assets Investment Management LLC grew 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 purchasing an additional 806,676 shares during the last quarter. Sei Investments Co. grew its holdings in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after purchasing an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares during the last quarter. Finally, Mark Asset Management LP boosted its position in ARM by 14.2% in the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after buying an additional 29,686 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

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.