ARM (NASDAQ:ARM) Stock Price Down 1.6% – Here’s Why

Shares of Arm Holdings plc (NASDAQ:ARM) were down 1.6% during mid-day trading on Tuesday . The company traded as low as $136.88 and last traded at $137.48. Approximately 889,247 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 10,590,916 shares. The stock had previously closed at $139.68.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price objective on shares of ARM in a research report on Thursday, August 1st. UBS Group initiated coverage on ARM in a report on Monday. They set a “buy” rating and a $160.00 target price for the company. Barclays lifted their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Trading Down 2.5 %

The stock’s 50 day moving average is $143.22 and its 200-day moving average is $141.27. The company has a market cap of $139.75 billion, a P/E ratio of 222.29, a PEG ratio of 6.97 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. As a group, sell-side analysts forecast that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Trading of ARM

Institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after acquiring an additional 806,676 shares during the last quarter. Sei Investments Co. increased its holdings in ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares during the period. Franklin Resources Inc. lifted its holdings in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares in the last quarter. Finally, Marsico Capital Management LLC bought a new position in shares of ARM in the second quarter worth approximately $33,207,000. Hedge funds and other 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.