ARM (NASDAQ:ARM) Trading Down 8.6%

Arm Holdings plc (NASDAQ:ARM)’s stock price traded down 8.6% during trading on Friday . The stock traded as low as 108.73 and last traded at 111.04. 7,318,325 shares were traded during trading, a decline of 43% from the average session volume of 12,855,146 shares. The stock had previously closed at 121.51.

Analyst Ratings Changes

ARM has been the topic of several recent research reports. Barclays raised their price target on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday. BNP Paribas lowered shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a research report on Friday, April 19th. HSBC downgraded shares of ARM from a “hold” rating to a “reduce” rating in a research report on Monday. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a research note on Monday. Finally, Bank of America boosted their price objective on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, ARM presently has an average rating of “Hold” and a consensus target price of 118.80.

ARM Stock Down 7.8 %

The firm’s 50-day moving average price is 153.80 and its two-hundred day moving average price is 126.39. The firm has a market capitalization of $117.43 billion and a PE ratio of 153.37.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, July 31st. The company reported 0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.35 by 0.05. The company had revenue of 939.00 million for the quarter, compared to the consensus estimate of 905.53 million. ARM had a net margin of 12.12% and a return on equity of 19.58%. The company’s revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. Equities research analysts forecast that Arm Holdings plc will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ARM

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