ARM (NASDAQ:ARM) Trading Down 1.4%

Arm Holdings plc (NASDAQ:ARM) was down 1.4% during trading on Thursday . The company traded as low as 102.58 and last traded at 106.07. Approximately 5,905,339 shares were traded during trading, a decline of 60% from the average daily volume of 14,639,326 shares. The stock had previously closed at 107.56.

Analyst Ratings Changes

A number of research analysts have recently commented on ARM shares. Evercore ISI started coverage on shares of ARM in a research note on Tuesday. They set an “outperform” rating and a $156.00 price objective for the company. Barclays boosted their target price on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. New Street Research reiterated a “neutral” rating and set a $110.00 target price on shares of ARM in a report on Tuesday, February 27th. Daiwa Capital Markets cut ARM from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $130.00 in a report on Friday, February 16th. Finally, Susquehanna reiterated a “neutral” rating and set a $85.00 target price on shares of ARM in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of 90.28.

ARM Stock Performance

The company has a 50 day moving average price of 128.44 and a 200 day moving average price of 86.35.

ARM (NASDAQ:ARM) last posted 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 firm had revenue of 824.00 million for the quarter, compared to analyst estimates of 762.50 million. ARM’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Arm Holdings plc will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Several institutional investors and hedge funds have recently made changes to their positions in ARM. Schroder Investment Management Group acquired a new stake in shares of ARM during the 4th quarter valued at approximately $480,194,000. Jennison Associates LLC acquired a new stake in ARM in the third quarter worth $339,965,000. FMR LLC acquired a new stake in ARM in the third quarter worth $242,812,000. Wellington Management Group LLP acquired a new stake in ARM in the third quarter worth $152,896,000. Finally, Invesco Ltd. acquired a new stake in ARM in the third quarter worth $143,092,000. 7.53% of the stock is 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.