ARM (NASDAQ:ARM) Stock Price Down 3% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM) was down 3% during mid-day trading on Wednesday . The stock traded as low as $135.16 and last traded at $135.72. Approximately 1,989,159 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 10,834,175 shares. The stock had previously closed at $139.92.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ARM shares. Benchmark started coverage on shares of ARM in a research note on Monday, September 16th. They issued a “hold” rating on the stock. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI boosted their target price on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays lifted their price objective on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Price Performance

The firm has a market cap of $142.86 billion, a PE ratio of 227.85, a price-to-earnings-growth ratio of 6.39 and a beta of 5.40. The stock’s fifty day moving average price is $142.83 and its 200-day moving average price is $139.15.

ARM (NASDAQ:ARM) last released 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. The company had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. On average, sell-side analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Several institutional investors have recently made changes to their positions in the stock. RiverPark Advisors LLC boosted its position 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 in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of ARM by 14.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after buying an additional 77 shares in the last quarter. BOKF NA boosted its position in shares of ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System boosted its position 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 buying an additional 100 shares in the last quarter. Finally, Great Valley Advisor Group Inc. lifted its holdings in ARM by 5.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock valued at $281,000 after purchasing an additional 102 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other 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.