ARM (NASDAQ:ARM) Stock Price Down 2.2%

Shares of Arm Holdings plc (NASDAQ:ARM) fell 2.2% during trading on Wednesday . The stock traded as low as 122.83 and last traded at 125.19. 5,665,638 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 16,504,783 shares. The stock had previously closed at 127.96.

Wall Street Analyst Weigh In

Several research firms have commented on ARM. KeyCorp raised their target price on shares of ARM from $75.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Barclays raised their price target on shares of ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. New Street Research restated a “neutral” rating and issued a $110.00 price target on shares of ARM in a research note on Tuesday, February 27th. Mizuho raised their price target on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of ARM from a “buy” rating to a “hold” rating and raised their price target for the company from $60.00 to $70.00 in a research note on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, ARM presently has a consensus rating of “Hold” and an average target price of 85.78.

ARM Stock Down 1.9 %

The company has a 50-day moving average price of 112.93.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. ARM’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Arm Holdings plc will post 1.21 EPS for the current year.

Hedge Funds Weigh In On ARM

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in ARM by 47.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock valued at $115,000 after acquiring an additional 494 shares in the last quarter. Hoey Investments Inc. purchased a new stake in ARM in the 3rd quarter valued at about $27,000. Armstrong Advisory Group Inc. purchased a new stake in ARM in the 3rd quarter valued at about $27,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ARM by 49.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock valued at $117,000 after buying an additional 514 shares during the last quarter. Finally, Centerpoint Advisors LLC purchased a new stake in shares of ARM during the 3rd quarter worth approximately $32,000. 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.