ARM (NASDAQ:ARM) Shares Down 2.2%

Arm Holdings plc (NASDAQ:ARM) shares were down 2.2% during trading on Thursday . The stock traded as low as 95.50 and last traded at 97.70. Approximately 2,567,251 shares traded hands during trading, a decline of 83% from the average daily volume of 14,676,792 shares. The stock had previously closed at 99.88.

Analysts Set New Price Targets

Several research analysts recently commented on ARM shares. Rosenblatt Securities boosted their target price on ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Susquehanna reaffirmed a “neutral” rating and set a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. Daiwa Capital Markets downgraded ARM from a “buy” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $130.00 in a research note on Friday, February 16th. Mizuho increased their target price on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, Evercore ISI initiated coverage on ARM in a report on Tuesday, April 16th. They issued an “outperform” rating and a $156.00 price target on the stock. One 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of 90.28.

ARM Trading Up 4.1 %

The stock has a fifty day moving average price of 125.07 and a two-hundred day moving average price of 87.90.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, sell-side analysts forecast that Arm Holdings plc will post 0.36 EPS for the current year.

Institutional Investors Weigh In On ARM

Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new stake in shares of ARM during the 3rd quarter valued at $219,000. Robeco Schweiz AG acquired a new position in ARM during the third quarter worth $35,591,000. American Century Companies Inc. acquired a new position in ARM during the third quarter worth $54,800,000. Citigroup Inc. bought a new stake in ARM during the third quarter valued at about $344,000. Finally, UG Investment Advisers Ltd. bought a new stake in shares of ARM in the third quarter valued at about $3,568,000. 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.