ARM (NASDAQ:ARM) Shares Down 5.6%

Arm Holdings plc (NASDAQ:ARM)’s stock price was down 5.6% on Wednesday . The company traded as low as 159.80 and last traded at 162.08. Approximately 3,768,365 shares changed hands during trading, a decline of 70% from the average daily volume of 12,741,712 shares. The stock had previously closed at 171.70.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ARM shares. Sanford C. Bernstein increased their price target on shares of ARM from $72.00 to $92.00 and gave the stock an “underperform” rating in a research note on Thursday, May 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, May 9th. Evercore ISI reduced their price objective on shares of ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $107.00 to $190.00 in a research note on Friday, July 19th. Finally, Bank of America increased their price objective on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of 109.08.

ARM Stock Up 3.5 %

The company’s 50 day moving average price is 151.23 and its 200-day moving average price is 124.08.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share (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 analysts’ expectations of 865.94 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business’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 EPS. Research analysts expect that Arm Holdings plc will post 0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BOKF NA increased its position in shares of ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after acquiring an additional 100 shares in the last quarter. Comerica Bank increased its position in shares of ARM by 6.1% in the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after acquiring an additional 103 shares in the last quarter. Naples Money Management LLC increased its position in shares of ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after acquiring an additional 110 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its holdings in shares of ARM by 2.9% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after purchasing an additional 145 shares during the period. Finally, SOA Wealth Advisors LLC. boosted its holdings in shares of ARM by 62.5% during the second quarter. SOA Wealth Advisors LLC. now owns 455 shares of the company’s stock worth $74,000 after purchasing an additional 175 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Company Profile

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.