ARM (NASDAQ:ARM) Stock Price Down 4.8% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price traded down 4.8% during mid-day trading on Wednesday . The company traded as low as $143.12 and last traded at $145.18. 3,900,203 shares were traded during trading, a decline of 65% from the average session volume of 11,154,844 shares. The stock had previously closed at $152.58.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ARM shares. Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Citigroup upped their target price on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Sanford C. Bernstein upgraded ARM from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $92.00 to $100.00 in a research report on Wednesday, August 7th. Finally, Barclays raised their target price on shares of ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

ARM Stock Performance

The firm has a 50-day moving average price of $138.93 and a 200-day moving average price of $135.70. The stock has a market cap of $150.63 billion and a P/E ratio of 372.65.

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

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently modified their holdings of ARM. Tyche Wealth Partners LLC purchased a new position in ARM in the 3rd quarter worth approximately $272,000. Integrated Advisors Network LLC lifted its holdings in shares of ARM by 9.4% during the third quarter. Integrated Advisors Network LLC now owns 1,937 shares of the company’s stock valued at $277,000 after purchasing an additional 167 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of ARM by 123.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,587 shares of the company’s stock valued at $227,000 after buying an additional 876 shares during the last quarter. Traynor Capital Management Inc. increased its holdings in ARM by 2,847.3% in the 3rd quarter. Traynor Capital Management Inc. now owns 1,621 shares of the company’s stock worth $232,000 after buying an additional 1,566 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in ARM in the 3rd quarter worth about $220,000. 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.