ARM (NASDAQ:ARM) Trading Down 1.7% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) shares were down 1.7% during trading on Wednesday . The stock traded as low as $146.31 and last traded at $146.86. Approximately 1,078,694 shares were traded during trading, a decline of 85% from the average daily volume of 6,969,571 shares. The stock had previously closed at $149.47.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ARM. Loop Capital raised their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. UBS Group began coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. TD Cowen raised their target price on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Evercore ISI upped their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.09.

ARM Price Performance

The firm has a market capitalization of $167.18 billion, a P/E ratio of 265.92, a P/E/G ratio of 6.90 and a beta of 4.53. The stock has a fifty day simple moving average of $141.35 and a two-hundred day simple moving average of $140.15.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, sell-side analysts expect that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Several hedge funds and other institutional investors have recently modified their holdings of ARM. ORG Partners LLC acquired a new position in ARM during the 3rd quarter valued at about $29,000. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares in the last quarter. Berbice Capital Management LLC purchased a new position in shares of ARM during the fourth quarter valued at approximately $49,000. Quantbot Technologies LP bought a new stake in ARM during the third quarter worth $52,000. Finally, Farther Finance Advisors LLC raised its position in ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after buying an additional 131 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

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.