ARM (NASDAQ:ARM) Trading Down 1.8%

Arm Holdings plc (NASDAQ:ARM) shares were down 1.8% during mid-day trading on Monday . The company traded as low as 154.23 and last traded at 155.09. Approximately 5,261,944 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 13,237,629 shares. The stock had previously closed at 157.89.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ARM shares. Evercore ISI cut their price objective on shares of ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Sanford C. Bernstein upped their price target on shares of ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a report on Thursday, May 16th. KeyCorp raised their price objective on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, May 9th. Finally, Bank of America raised their price target on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of 99.48.

ARM Price Performance

The stock has a fifty day moving average price of 117.23 and a 200-day moving average price of 104.57.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.30 by 0.06. The company had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. The firm’s quarterly revenue was up 46.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. As a group, sell-side analysts anticipate that Arm Holdings plc will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Large investors have recently made changes to their positions in the business. Cetera Advisors LLC purchased a new stake in shares of ARM during the first quarter worth about $726,000. Cetera Investment Advisers acquired a new position in ARM during the 1st quarter valued at approximately $3,425,000. Virtu Financial LLC increased its stake in ARM by 198.6% during the 1st quarter. Virtu Financial LLC now owns 51,016 shares of the company’s stock valued at $6,376,000 after purchasing an additional 33,931 shares in the last quarter. EMC Capital Management purchased a new position in shares of ARM in the first quarter worth $124,000. Finally, iA Global Asset Management Inc. lifted its stake in shares of ARM by 28.2% during the first quarter. iA Global Asset Management Inc. now owns 13,944 shares of the company’s stock worth $1,743,000 after buying an additional 3,069 shares during the period. 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.