ARM (NASDAQ:ARM) Stock Price Down 0.1%

Arm Holdings plc (NASDAQ:ARM) shares were down 0.1% during mid-day trading on Wednesday . The company traded as low as $128.29 and last traded at $129.80. Approximately 1,534,446 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 12,553,131 shares. The stock had previously closed at $129.95.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ARM shares. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price target on shares of ARM in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a report on Monday, July 29th. Finally, Sanford C. Bernstein upgraded shares of ARM from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $92.00 to $100.00 in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.56.

ARM Trading Up 4.6 %

The firm’s fifty day simple moving average is $150.87 and its 200 day simple moving average is $131.52. The company has a market cap of $142.12 billion and a price-to-earnings ratio of 138.24.

ARM (NASDAQ:ARM) last issued its earnings results 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 net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 39.1% compared to the same quarter last year. As a group, sell-side analysts expect that Arm Holdings plc will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ARM

Several hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its holdings in shares of ARM by 393.0% in the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in ARM in the fourth quarter valued at $665,000. Rheos Capital Works Inc. grew its holdings in shares of ARM by 48.1% during the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after purchasing an additional 83,400 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of ARM during the first quarter worth about $222,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of ARM in the 1st quarter valued at about $2,620,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.