ARM (NASDAQ:ARM) Shares Down 5.4%

Arm Holdings plc (NASDAQ:ARM)’s stock price traded down 5.4% during trading on Monday . The company traded as low as $127.86 and last traded at $128.28. 2,107,082 shares changed hands during trading, a decline of 83% from the average session volume of 12,438,323 shares. The stock had previously closed at $135.63.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ARM. Citigroup boosted their price objective on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $107.00 to $190.00 in a research report on Friday, July 19th. The Goldman Sachs Group upped their target price on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Daiwa America raised ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and an average target price of $121.56.

ARM Trading Down 4.5 %

The stock has a market cap of $131.31 billion and a price-to-earnings ratio of 144.29. The firm’s 50 day moving average is $148.94 and its two-hundred day moving average is $132.97.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. During the same period in the previous year, the firm posted $0.24 EPS. ARM’s revenue was up 39.1% on a year-over-year basis. As a group, equities analysts expect that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its stake in shares of ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of ARM during the fourth quarter valued at approximately $665,000. Rheos Capital Works Inc. lifted its position in shares of ARM by 48.1% during the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after purchasing an additional 83,400 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of ARM in the first quarter valued at $222,000. Finally, Quadrature Capital Ltd acquired a new stake in ARM during the 1st quarter valued at $2,620,000. 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.