ARM (NASDAQ:ARM) Shares Down 0.3% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price dropped 0.3% during trading on Thursday . The company traded as low as $144.23 and last traded at $146.94. Approximately 1,830,939 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 4,326,881 shares. The stock had previously closed at $147.40.

Wall Street Analysts Forecast Growth

ARM has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Evercore ISI raised their target price on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. TD Cowen raised their target price on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. Finally, Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.09.

ARM Price Performance

The company has a market cap of $156.40 billion, a PE ratio of 248.77, a price-to-earnings-growth ratio of 6.57 and a beta of 4.53. The company has a 50-day moving average of $137.37 and a 200 day moving average of $141.39.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 earnings per share. Equities research analysts expect that Arm Holdings plc will post 0.84 EPS for the current year.

Institutional Trading of ARM

Several institutional investors have recently added to or reduced their stakes in ARM. International Assets Investment Management LLC raised its stake in shares of ARM by 14,351.1% during the third 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 second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after acquiring an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of ARM during the fourth quarter valued at approximately $22,705,000. Institutional investors 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.