ARM (NASDAQ:ARM) Stock Price Down 7.8% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) traded down 7.8% during trading on Tuesday . The company traded as low as $147.00 and last traded at $149.17. 4,345,974 shares were traded during trading, a decline of 62% from the average session volume of 11,328,024 shares. The stock had previously closed at $161.82.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ARM shares. Barclays lifted their target price on shares of ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Sanford C. Bernstein upgraded ARM from an “underperform” rating to a “market perform” rating and increased their target price for the company from $92.00 to $100.00 in a report on Wednesday, August 7th. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.91.

ARM Stock Performance

The firm has a market cap of $162.00 billion and a price-to-earnings ratio of 397.34. The firm’s 50 day moving average is $135.66 and its 200-day moving average is $134.74.

ARM (NASDAQ:ARM) last posted its 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. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business’s revenue was up 39.1% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. As a group, research analysts predict that Arm Holdings plc will post 0.86 EPS for the current year.

Hedge Funds Weigh In On ARM

Institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC acquired a new position in ARM in the 4th quarter valued at $102,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of ARM in the fourth quarter valued at about $388,000. PNC Financial Services Group Inc. increased its stake in shares of ARM by 47.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock worth $115,000 after purchasing an additional 494 shares during the period. HighPoint Advisor Group LLC acquired a new position in shares of ARM during the 4th quarter worth about $152,000. Finally, CWM LLC boosted its stake in ARM by 1,245.2% during the 1st quarter. CWM LLC now owns 3,753 shares of the company’s stock valued at $469,000 after purchasing an additional 3,474 shares during the period. Institutional investors own 7.53% of the company’s stock.

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.