ARM (NASDAQ:ARM) Trading Down 2.9% – What’s Next?

Shares of Arm Holdings plc (NASDAQ:ARM) were down 2.9% during trading on Monday . The company traded as low as $134.63 and last traded at $136.44. 1,347,520 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 4,483,350 shares. The stock had previously closed at $140.49.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ARM. JPMorgan Chase & Co. boosted their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. TD Cowen boosted their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group initiated coverage on shares of ARM in a report on Monday, November 25th. They set a “buy” rating and a $160.00 price objective for the company. Wells Fargo & Company upped their target price on shares of ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.64.

ARM Stock Performance

The stock has a market cap of $154.45 billion, a P/E ratio of 245.67, a PEG ratio of 7.15 and a beta of 4.53. The firm’s 50-day moving average is $137.34 and its two-hundred day moving average is $141.38.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, research analysts forecast that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ARM. ORG Partners LLC bought a new position in ARM in the third quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC lifted its stake in shares of ARM by 83.0% in the 3rd 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 during the period. Quantbot Technologies LP bought a new position in shares of ARM in the 3rd quarter worth $52,000. Farther Finance Advisors LLC grew its stake in shares of ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares during the period. Finally, First Community Trust NA bought a new stake in ARM in the third quarter valued at about $70,000. 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.