ARM (NASDAQ:ARM) Stock Price Down 2.5% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) dropped 2.5% during mid-day trading on Thursday . The stock traded as low as $129.60 and last traded at $133.37. Approximately 5,498,108 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 10,576,457 shares. The stock had previously closed at $136.72.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ARM shares. Loop Capital increased their price objective on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday, August 8th. Finally, Raymond James started coverage on shares of ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target for the company. Two equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Price Performance

The company has a market capitalization of $139.75 billion, a PE ratio of 222.29, a PEG ratio of 6.97 and a beta of 5.40. The company has a 50 day moving average of $143.22 and a two-hundred day moving average of $141.27.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share 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 analyst estimates of $810.03 million. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Trading of ARM

Several hedge funds and other institutional investors have recently bought and sold shares of ARM. Transcendent Capital Group LLC purchased a new position in shares of ARM in the 2nd quarter worth approximately $33,000. ORG Partners LLC acquired a new stake in shares of ARM during the third quarter worth about $29,000. RiverPark Advisors LLC raised its position in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of ARM in the second quarter worth $41,000. Finally, Gilliland Jeter Wealth Management LLC lifted its position in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the period. Institutional investors own 7.53% of the company’s stock.

About ARM

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.