ARM (NASDAQ:ARM) Stock Price Down 2.4%

Arm Holdings plc (NASDAQ:ARM)’s share price traded down 2.4% during trading on Thursday . The company traded as low as 155.80 and last traded at 157.81. 3,845,151 shares were traded during trading, a decline of 70% from the average session volume of 12,874,234 shares. The stock had previously closed at 161.70.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BNP Paribas cut ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a report on Friday, April 19th. Rosenblatt Securities restated a “buy” rating and set a $180.00 target price on shares of ARM in a report on Monday, May 6th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $107.00 to $190.00 in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, May 9th. Finally, Bank of America raised their target price on ARM from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, ARM has an average rating of “Moderate Buy” and an average target price of 109.08.

ARM Stock Performance

The firm has a 50-day moving average price of 147.63 and a two-hundred day moving average price of 121.51.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, topping 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 revenue was up 46.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. Research analysts forecast that Arm Holdings plc will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ARM. Mark Sheptoff Financial Planning LLC acquired a new position in ARM during the first quarter worth approximately $25,000. SOA Wealth Advisors LLC. acquired a new position in shares of ARM in the first quarter valued at approximately $35,000. Mather Group LLC. acquired a new position in shares of ARM in the second quarter valued at approximately $41,000. Naples Money Management LLC increased its holdings in shares of ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after purchasing an additional 110 shares during the period. Finally, Northwest Financial Advisors acquired a new position in shares of ARM in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds 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.