ARM (NASDAQ:ARM) Stock Price Down 1.4% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) fell 1.4% during trading on Thursday . The stock traded as low as $139.43 and last traded at $140.48. 2,672,633 shares were traded during trading, a decline of 76% from the average session volume of 11,141,301 shares. The stock had previously closed at $142.41.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ARM. Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a research note on Thursday, August 8th. Raymond James began coverage on shares of ARM in a research report on Friday, September 13th. They issued an “outperform” rating and a $160.00 target price for the company. Hsbc Global Res raised ARM to a “moderate sell” rating in a research note on Monday, July 29th. Benchmark assumed coverage on shares of ARM in a report on Monday, September 16th. They set a “hold” rating for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average target price of $138.57.

ARM Price Performance

The firm has a fifty day simple moving average of $138.71 and a 200-day simple moving average of $135.66. The firm has a market cap of $146.64 billion and a P/E ratio of 360.21.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. During the same period in the previous year, the company posted $0.24 EPS. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. On average, equities analysts predict that Arm Holdings plc will post 0.86 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently modified their holdings of the business. RiverPark Advisors LLC boosted its holdings in shares of ARM by 45.3% in 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. Hexagon Capital Partners LLC grew its position in shares of ARM by 14.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after acquiring an additional 77 shares during the period. BOKF NA increased its stake in shares of ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of ARM by 1.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after purchasing an additional 100 shares during the period. Finally, Comerica Bank raised its holdings in shares of ARM by 6.1% in the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the period. 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.