ARM (NASDAQ:ARM) Shares Down 3.8%

Shares of Arm Holdings plc (NASDAQ:ARM) were down 3.8% during mid-day trading on Monday . The stock traded as low as $140.54 and last traded at $141.75. Approximately 465,782 shares traded hands during trading, a decline of 96% from the average daily volume of 11,996,691 shares. The stock had previously closed at $147.37.

Analyst Ratings Changes

Several research firms recently commented on ARM. William Blair initiated coverage on shares of ARM in a research report on Wednesday. They issued an “outperform” rating on the stock. Evercore ISI upped their price objective on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Barclays lifted 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. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $107.00 to $190.00 in a research report on Friday, July 19th. Finally, Bank of America lifted their price objective on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $123.04.

ARM Trading Up 1.1 %

The company has a market cap of $144.98 billion and a price-to-earnings ratio of 148.06. The business’s 50 day moving average price is $138.02 and its 200-day moving average price is $132.76.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million during 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 was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities research analysts forecast that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently modified their holdings of the business. RiverPark Advisors LLC boosted its stake in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares during the period. BOKF NA lifted its position in shares of ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after acquiring an additional 100 shares during the period. Comerica Bank grew its holdings in shares of ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares in the last quarter. Naples Money Management LLC increased its position in shares of ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in ARM by 2.9% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock valued at $645,000 after purchasing an additional 145 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.