ARM (NASDAQ:ARM) Trading Down 0.1%

Arm Holdings plc (NASDAQ:ARM) shares were down 0.1% during mid-day trading on Wednesday . The company traded as low as $128.29 and last traded at $129.80. Approximately 1,534,446 shares were traded during trading, a decline of 88% from the average daily volume of 12,553,131 shares. The stock had previously closed at $129.95.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ARM shares. Sanford C. Bernstein raised ARM from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $92.00 to $100.00 in a research report on Wednesday, August 7th. Wells Fargo & Company increased their price target on ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, August 1st. Finally, Evercore ISI increased their price target on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.56.

ARM Stock Down 0.4 %

The company has a market capitalization of $135.56 billion and a PE ratio of 138.77. The business has a 50 day simple moving average of $151.93 and a 200 day simple moving average of $131.53.

ARM (NASDAQ:ARM) last announced 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 analysts’ expectations of $905.53 million. During the same period last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. Equities analysts expect that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. RiverPark Advisors LLC grew its holdings in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares during the period. BOKF NA grew its holdings in ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the period. Comerica Bank grew its holdings in ARM by 6.1% in the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC grew its holdings in ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after purchasing an additional 110 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its holdings in ARM by 2.9% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock valued at $645,000 after purchasing an additional 145 shares during the period. 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.