ARM (NASDAQ:ARM) Trading Down 1% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price dropped 1% on Tuesday . The stock traded as low as $147.03 and last traded at $147.83. Approximately 1,241,637 shares changed hands during trading, a decline of 71% from the average daily volume of 4,270,241 shares. The stock had previously closed at $149.26.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Loop Capital increased their price target on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Evercore ISI boosted their price objective on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group started coverage on ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price objective on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $151.09.

ARM Stock Performance

The firm’s 50 day moving average is $137.52 and its 200-day moving average is $140.92. The firm has a market cap of $162.59 billion, a price-to-earnings ratio of 258.83, a price-to-earnings-growth ratio of 6.97 and a beta of 4.53.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million during 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 period in the prior year, the firm earned $0.36 EPS. As a group, research analysts predict that Arm Holdings plc will post 0.84 EPS for the current year.

Hedge Funds Weigh In On ARM

Several large investors have recently added to or reduced their stakes in ARM. Franklin Resources Inc. grew its stake in shares of ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the period. International Assets Investment Management LLC increased its position in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in ARM by 186.8% in 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 buying an additional 233,909 shares in the last quarter. Mark Asset Management LP boosted its position in ARM by 14.2% in the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after buying an additional 29,686 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of ARM by 19.2% during the third quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after buying an additional 35,720 shares in the last quarter. Institutional investors and hedge funds 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.