ARM (NASDAQ:ARM) Shares Down 2.3% – Time to Sell?

Arm Holdings plc (NASDAQ:ARM) shares were down 2.3% on Wednesday . The stock traded as low as $150.51 and last traded at $153.54. Approximately 1,614,765 shares changed hands during trading, a decline of 85% from the average daily volume of 11,025,046 shares. The stock had previously closed at $157.17.

Wall Street Analyst Weigh In

Several brokerages have commented on ARM. Loop Capital raised their target price on shares of ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. TD Cowen raised shares of ARM to a “strong-buy” rating in a research note on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, August 1st. Hsbc Global Res raised ARM to a “moderate sell” rating in a research report on Monday, July 29th. Finally, Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.57.

ARM Price Performance

The company’s 50 day moving average is $140.09 and its two-hundred day moving average is $136.29. The firm has a market cap of $161.78 billion and a P/E ratio of 394.82.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. During the same period in the prior year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. Research analysts predict that Arm Holdings plc will post 0.86 EPS for the current year.

Institutional Investors Weigh In On ARM

A number of large investors have recently bought and sold shares of the business. RiverPark Advisors LLC increased its position in ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of ARM by 14.0% during the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after acquiring an additional 77 shares during the last quarter. BOKF NA lifted its stake in shares of ARM by 33.3% during the first quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its holdings in ARM by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after acquiring an additional 100 shares during the last quarter. Finally, Comerica Bank raised its holdings in ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the last quarter. 7.53% of the stock is currently owned by 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.