ARM (NASDAQ:ARM) Shares Down 0.8%

Arm Holdings plc (NASDAQ:ARM)’s stock price was down 0.8% during trading on Wednesday . The company traded as low as $117.42 and last traded at $122.79. Approximately 3,871,474 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 12,233,860 shares. The stock had previously closed at $123.74.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARM. Evercore ISI raised their price objective on shares of ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. HSBC cut ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. TD Cowen lifted their price objective on ARM from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their target price on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Guggenheim lifted their price target on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.56.

ARM Trading Up 1.8 %

The company has a market cap of $128.98 billion and a price-to-earnings ratio of 140.35. The stock has a 50 day moving average price of $143.99 and a two-hundred day moving average price of $132.75.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $905.53 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 39.1% on a year-over-year basis. On average, equities analysts forecast that Arm Holdings plc will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARM. Schroder Investment Management Group acquired a new position in shares of ARM in the 4th quarter valued at $480,194,000. Mubadala Investment Co PJSC acquired a new position in ARM in the fourth quarter valued at about $150,437,000. Wellington Management Group LLP increased its holdings in shares of ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after acquiring an additional 1,611,926 shares in the last quarter. Robeco Schweiz AG raised its position in shares of ARM by 220.3% during the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after purchasing an additional 1,465,000 shares during the period. Finally, Capstone Investment Advisors LLC raised its position in shares of ARM by 362.6% during the fourth quarter. Capstone Investment Advisors LLC now owns 902,000 shares of the company’s stock worth $67,781,000 after purchasing an additional 707,000 shares during the period. Institutional investors and hedge funds 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.