ARM (NASDAQ:ARM) Shares Down 0.8%

Shares of Arm Holdings plc (NASDAQ:ARM) traded down 0.8% during mid-day trading on Wednesday . The stock traded as low as $117.42 and last traded at $122.79. 3,871,474 shares traded hands during trading, a decline of 68% from the average session volume of 12,233,860 shares. The stock had previously closed at $123.74.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ARM shares. Barclays boosted their price objective on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Evercore ISI upped their price target on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. HSBC cut shares of ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Rosenblatt Securities restated a “buy” rating and set a $180.00 target price on shares of ARM in a report on Thursday, August 1st. Finally, Bank of America lifted their price target on shares of ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.56.

ARM Trading Down 1.0 %

The company has a fifty day moving average price of $145.74 and a 200-day moving average price of $132.90. The firm has a market capitalization of $128.32 billion and a price-to-earnings ratio of 140.35.

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

Hedge Funds Weigh In On ARM

A number of institutional investors have recently made changes to their positions in ARM. Mark Sheptoff Financial Planning LLC acquired a new stake in ARM in the 1st quarter worth $25,000. Transcendent Capital Group LLC acquired a new stake in ARM during the second quarter worth about $33,000. SOA Wealth Advisors LLC. bought a new position in ARM during the first quarter valued at about $35,000. RiverPark Advisors LLC raised its holdings in ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of ARM in the 2nd quarter worth approximately $41,000. 7.53% of the stock is currently owned by 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.