ARM (NASDAQ:ARM) Trading Down 2% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) dropped 2% on Wednesday . The company traded as low as $123.11 and last traded at $123.36. Approximately 2,680,229 shares changed hands during trading, a decline of 73% from the average daily volume of 10,053,197 shares. The stock had previously closed at $125.91.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ARM shares. Susquehanna raised their price objective on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Raymond James began coverage on shares of ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target on the stock. Loop Capital boosted their price objective on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Trading Up 3.9 %

The firm has a 50-day simple moving average of $138.11 and a two-hundred day simple moving average of $142.96. The company has a market capitalization of $134.33 billion, a price-to-earnings ratio of 213.67, a P/E/G ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping 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 firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period last year, the company earned $0.36 earnings per share. ARM’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARM. Franklin Resources Inc. grew its position in shares of ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the period. International Assets Investment Management LLC grew its holdings in ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares during the period. Sei Investments Co. increased its position in shares of ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares during the period. Finally, Mark Asset Management LP raised its stake in shares of ARM by 14.2% during the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after buying an additional 29,686 shares during the period. Hedge funds and other 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.