ARM (NASDAQ:ARM) Trading Down 0.8% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price was down 0.8% during mid-day trading on Monday . The company traded as low as $126.36 and last traded at $127.72. Approximately 1,606,054 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 10,763,225 shares. The stock had previously closed at $128.73.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. TD Cowen raised their price target on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Loop Capital upped their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of ARM in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and an average price target of $147.95.

ARM Stock Performance

The company has a market capitalization of $133.89 billion, a price-to-earnings ratio of 212.87, a P/E/G ratio of 6.43 and a beta of 5.40. The firm has a 50-day simple moving average of $143.60 and a two-hundred day simple moving average of $139.86.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same period last year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares during the last quarter. Sei Investments Co. grew its stake in ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after buying an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after buying an additional 233,909 shares during the last quarter. Marsico Capital Management LLC purchased a new position in shares of ARM during the second quarter worth approximately $33,207,000. Finally, ProShare Advisors LLC purchased a new stake in ARM in the 2nd quarter valued at $16,611,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.