Arm Holdings plc (NASDAQ:ARM – Get Free Report)’s stock price was down 1.7% during trading on Wednesday . The stock traded as low as $146.31 and last traded at $146.86. Approximately 1,078,694 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 6,969,571 shares. The stock had previously closed at $149.47.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. TD Cowen boosted their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Loop Capital boosted their target price on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Evercore ISI upped their price objective on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Susquehanna upped their price objective on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ARM has an average rating of “Moderate Buy” and an average price target of $152.09.
Get Our Latest Stock Report on ARM
ARM Stock Down 1.3 %
ARM (NASDAQ:ARM – Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts expect that Arm Holdings plc will post 0.84 earnings per share for the current year.
Institutional Trading of ARM
Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after buying an additional 228,467 shares in the last quarter. SG Americas Securities LLC purchased a new position in ARM in the 4th quarter valued at about $22,705,000. Finally, UNICOM Systems Inc. purchased a new position in ARM in the 4th quarter valued at about $13,673,000. 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.
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