ARM (NASDAQ:ARM) Shares Down 0.1%

Shares of Arm Holdings plc (NASDAQ:ARM) fell 0.1% on Friday . The company traded as low as 165.44 and last traded at 166.70. 2,655,009 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 13,323,117 shares. The stock had previously closed at 166.94.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ARM. Guggenheim raised their price target on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company raised their price target on ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Sanford C. Bernstein raised their price target on ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a research report on Thursday, May 16th. KeyCorp raised their price target on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Mizuho lifted their price objective on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of 103.68.

ARM Trading Down 1.3 %

The firm has a 50-day moving average of 123.54 and a 200 day moving average of 109.89.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, topping the consensus estimate of 0.30 by 0.06. The firm had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. ARM’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 EPS. Analysts predict that Arm Holdings plc will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Several hedge funds and other institutional investors have recently bought and sold shares of ARM. Jennison Associates LLC increased its holdings in shares of ARM by 15.7% in the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock valued at $552,065,000 after acquiring an additional 994,551 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of ARM in the 4th quarter valued at approximately $480,194,000. Wellington Management Group LLP increased its holdings in shares of ARM by 56.4% in the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after acquiring an additional 1,611,926 shares during the last quarter. Robeco Schweiz AG increased its holdings in shares of ARM by 220.3% in the 4th quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after acquiring an additional 1,465,000 shares during the last quarter. Finally, Mubadala Investment Co PJSC bought a new stake in shares of ARM in the 4th quarter valued at approximately $150,437,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.