ARM (NASDAQ:ARM) Stock Price Up 0.2%

Arm Holdings plc (NASDAQ:ARM)’s stock price rose 0.2% on Monday . The stock traded as high as 183.74 and last traded at 181.56. Approximately 1,839,065 shares changed hands during trading, a decline of 86% from the average daily volume of 12,978,493 shares. The stock had previously closed at 181.18.

Wall Street Analyst Weigh In

ARM has been the topic of several research analyst reports. BNP Paribas downgraded shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a research report on Friday, April 19th. The Goldman Sachs Group lifted their price objective on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Evercore ISI decreased their price objective on shares of ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Susquehanna restated a “neutral” rating and set a $85.00 price objective on shares of ARM in a research note on Thursday, April 4th. Finally, Sanford C. Bernstein lifted their price objective on shares of ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Hold” and a consensus target price of 103.68.

ARM Trading Down 1.6 %

The stock’s fifty day moving average price is 141.50 and its 200-day moving average price is 118.91.

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

Institutional Investors Weigh In On ARM

A number of hedge funds have recently modified their holdings of ARM. American Century Companies Inc. purchased a new stake in shares of ARM in the third quarter valued at about $54,800,000. Wellington Management Group LLP purchased a new stake in shares of ARM in the third quarter valued at about $152,896,000. Citigroup Inc. purchased a new stake in shares of ARM in the third quarter valued at about $344,000. SG Americas Securities LLC grew its holdings in shares of ARM by 72.6% in the fourth quarter. SG Americas Securities LLC now owns 5,494 shares of the company’s stock valued at $413,000 after purchasing an additional 2,311 shares during the period. Finally, FNY Investment Advisers LLC grew its holdings in shares of ARM by 494.2% in the fourth quarter. FNY Investment Advisers LLC now owns 1,634 shares of the company’s stock valued at $122,000 after purchasing an additional 1,359 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.