ARM (NASDAQ:ARM) Stock Price Down 5.5%

Shares of Arm Holdings plc (NASDAQ:ARM) were down 5.5% during mid-day trading on Friday . The stock traded as low as 97.80 and last traded at 99.18. Approximately 5,960,016 shares were traded during trading, a decline of 59% from the average daily volume of 14,583,444 shares. The stock had previously closed at 104.92.

Analyst Ratings Changes

A number of research firms have weighed in on ARM. Mizuho upped their target price on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Susquehanna reaffirmed a “neutral” rating and set a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. Daiwa Capital Markets downgraded shares of ARM from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. Evercore ISI began coverage on shares of ARM in a research report on Tuesday. They set an “outperform” rating and a $156.00 target price for the company. Finally, Barclays lifted their price target on shares of ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of 90.28.

ARM Stock Down 10.7 %

The company’s fifty day moving average is 129.00 and its two-hundred day moving average is 86.11.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities analysts forecast that Arm Holdings plc will post 0.36 EPS for the current year.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Michigan Retirement System acquired a new stake in ARM during the first quarter worth approximately $28,523,000. Claro Advisors LLC purchased a new position in shares of ARM in the 1st quarter valued at $201,000. Griffin Asset Management Inc. acquired a new stake in ARM during the 1st quarter worth $246,000. Harbour Capital Advisors LLC raised its stake in ARM by 10.0% during the 1st quarter. Harbour Capital Advisors LLC now owns 6,050 shares of the company’s stock worth $752,000 after acquiring an additional 550 shares in the last quarter. Finally, Sovereign Financial Group Inc. purchased a new stake in ARM in the first quarter valued at $266,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.