ARM (NASDAQ:ARM) Trading Down 2% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) traded down 2% on Thursday . The company traded as low as $133.11 and last traded at $133.83. 1,822,670 shares were traded during trading, a decline of 82% from the average session volume of 10,206,257 shares. The stock had previously closed at $136.56.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARM. UBS Group assumed coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 target price for 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 report on Monday, November 11th. William Blair started coverage on ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a research report on Thursday, October 31st. Finally, Wells Fargo & Company initiated coverage on ARM in a research report on Friday, November 22nd. They set an “overweight” rating and a $155.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Stock Down 2.4 %

The firm’s 50 day moving average is $142.80 and its two-hundred day moving average is $143.88. The company has a market cap of $139.69 billion, a P/E ratio of 222.19, a PEG ratio of 7.15 and a beta of 4.67.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 13.69% and a net margin of 18.13%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, research analysts forecast that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of institutional investors have recently made changes to their positions in ARM. KP Management LLC lifted its stake in shares of ARM by 28.6% in the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after acquiring an additional 10,000 shares during the last quarter. XTX Topco Ltd increased its position in ARM by 150.1% during the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock valued at $928,000 after purchasing an additional 3,893 shares during the period. Willner & Heller LLC lifted its position in shares of ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after purchasing an additional 4,484 shares during the period. Avalon Global Asset Management LLC purchased a new stake in ARM in the third quarter worth about $8,581,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ARM by 89.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 18,457 shares of the company’s stock worth $2,640,000 after acquiring an additional 8,707 shares in the last quarter. 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.