ARM (NASDAQ:ARM) Shares Down 3.8%

Arm Holdings plc (NASDAQ:ARM) traded down 3.8% on Monday . The stock traded as low as $140.54 and last traded at $141.75. 465,782 shares changed hands during trading, a decline of 96% from the average session volume of 11,996,691 shares. The stock had previously closed at $147.37.

Analysts Set New Price Targets

Several brokerages have issued reports on ARM. Raymond James assumed coverage on shares of ARM in a research note on Friday. They issued an “outperform” rating and a $160.00 price objective on the stock. Barclays increased their price target on shares of ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Evercore ISI lifted their price objective on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Loop Capital raised their price target on ARM from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price objective on shares of ARM in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.04.

ARM Stock Performance

The company has a market capitalization of $145.52 billion and a PE ratio of 148.06. The stock’s fifty day simple moving average is $139.85 and its 200-day simple moving average is $132.81.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s revenue was up 39.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 earnings per share. On average, equities analysts anticipate that Arm Holdings plc will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Lazard Asset Management LLC boosted its holdings in ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after acquiring an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. raised its holdings in ARM by 156.3% in the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after buying an additional 11,220 shares during the period. Rheos Capital Works Inc. lifted its position in ARM by 48.1% during the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after buying an additional 83,400 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of ARM in the first quarter worth $222,000. Finally, Prudential PLC raised its stake in shares of ARM by 38.1% in the 2nd quarter. Prudential PLC now owns 108,653 shares of the company’s stock valued at $17,778,000 after acquiring an additional 29,992 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.