ARM (NASDAQ:ARM) Shares Down 2.9% – Should You Sell?

Arm Holdings plc (NASDAQ:ARM) shares dropped 2.9% during mid-day trading on Monday . The company traded as low as $134.63 and last traded at $136.44. Approximately 1,347,520 shares changed hands during trading, a decline of 70% from the average daily volume of 4,483,350 shares. The stock had previously closed at $140.49.

Analyst Ratings Changes

Several research analysts recently commented on ARM shares. Wells Fargo & Company raised their price target on shares of ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a report on Monday. TD Cowen upped their price target on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Benchmark assumed coverage on ARM in a research report on Monday, September 16th. They issued a “hold” rating on the stock. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. Finally, Loop Capital raised their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.64.

ARM Price Performance

The stock’s fifty day simple moving average is $137.36 and its two-hundred day simple moving average is $141.75. The company has a market capitalization of $142.92 billion, a price-to-earnings ratio of 227.34, a PEG ratio of 7.15 and a beta of 4.53.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $0.36 earnings per share. On average, sell-side analysts predict that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Trading of ARM

Hedge funds have recently bought and sold shares of the company. ORG Partners LLC acquired a new position in shares of ARM during the third quarter valued at $29,000. Gilliland Jeter Wealth Management LLC increased its stake in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares during the period. Quantbot Technologies LP bought a new stake in shares of ARM during the 3rd quarter worth about $52,000. Farther Finance Advisors LLC lifted its stake in shares of ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares during the period. Finally, First Community Trust NA bought a new position in shares of ARM in the third quarter valued at approximately $70,000. 7.53% of the stock is currently owned by 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.