ARM (NASDAQ:ARM) Shares Down 1.1% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shares dropped 1.1% during trading on Thursday . The company traded as low as $131.13 and last traded at $132.20. Approximately 1,728,098 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 10,681,520 shares. The stock had previously closed at $133.70.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARM. Evercore ISI boosted their target price on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Barclays boosted their target price on ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their target price on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.86.

ARM Trading Up 2.1 %

The firm has a fifty day simple moving average of $143.30 and a 200 day simple moving average of $140.40. The stock has a market cap of $142.49 billion, a price-to-earnings ratio of 226.65, a PEG ratio of 6.64 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued its 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 return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the prior year, the firm posted $0.36 EPS. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Arm Holdings plc will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. KP Management LLC boosted its position in ARM by 28.6% in the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after buying an additional 10,000 shares during the last quarter. Willner & Heller LLC lifted its stake in shares of ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after purchasing an additional 4,484 shares during the period. Lazard Asset Management LLC lifted its stake in shares of ARM by 393.0% in the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after purchasing an additional 20,117 shares during the period. United Advisor Group LLC acquired a new position in shares of ARM in the 3rd quarter valued at $545,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of ARM by 156.3% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after purchasing an additional 11,220 shares during the period. 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.