ARM (NASDAQ:ARM) Stock Price Down 3.8%

Arm Holdings plc (NASDAQ:ARM) shares dropped 3.8% during mid-day trading on Monday . The stock traded as low as 142.78 and last traded at 143.41. Approximately 3,018,073 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 12,706,087 shares. The stock had previously closed at 149.00.

Wall Street Analysts Forecast Growth

ARM has been the subject of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of ARM in a research note on Monday, May 6th. BNP Paribas lowered ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research note on Friday, April 19th. Evercore ISI dropped their price objective on ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Sanford C. Bernstein increased their price objective on ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a research note on Thursday, May 16th. Finally, Hsbc Global Res raised ARM to a “moderate sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of 109.08.

ARM Price Performance

The firm has a 50-day moving average price of 152.99 and a 200-day moving average price of 126.30.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.30 by 0.06. The firm had revenue of 928.00 million during 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 quarterly revenue was up 46.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS. As a group, research analysts expect that Arm Holdings plc will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Large investors have recently modified their holdings of the stock. Mark Sheptoff Financial Planning LLC purchased a new position in shares of ARM in the 1st quarter worth about $25,000. Transcendent Capital Group LLC bought a new stake in ARM in the 2nd quarter worth about $33,000. RiverPark Advisors LLC increased its holdings in ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares in the last quarter. Mather Group LLC. bought a new stake in ARM in the 2nd quarter worth about $41,000. Finally, SOA Wealth Advisors LLC. bought a new stake in ARM in the 1st quarter worth about $35,000. Hedge funds and other 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.