ARM (NASDAQ:ARM) Stock Price Down 0.8% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) was down 0.8% during mid-day trading on Tuesday . The company traded as low as $149.83 and last traded at $151.20. Approximately 1,306,158 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 11,181,641 shares. The stock had previously closed at $152.35.

Analysts Set New Price Targets

ARM has been the topic of several analyst reports. TD Cowen raised ARM to a “strong-buy” rating in a research report on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, August 1st. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Benchmark assumed coverage on ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Finally, Sanford C. Bernstein raised ARM from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $92.00 to $100.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

ARM Stock Down 6.7 %

The company has a market capitalization of $149.22 billion and a price-to-earnings ratio of 365.16. The business has a 50-day moving average price of $138.71 and a 200-day moving average price of $135.66.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its holdings in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after acquiring an additional 806,676 shares in the last quarter. Sei Investments Co. raised its stake in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after purchasing an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after buying an additional 233,909 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ARM by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock valued at $36,366,000 after buying an additional 14,584 shares in the last quarter. Finally, Mark Asset Management LP increased its holdings in ARM by 14.2% in the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after buying an additional 29,686 shares during the last quarter. Institutional investors and hedge funds 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.