ARM (NASDAQ:ARM) Shares Down 3% – Time to Sell?

Shares of Arm Holdings plc (NASDAQ:ARM) fell 3% on Wednesday . The stock traded as low as $135.16 and last traded at $135.72. 1,989,159 shares were traded during trading, a decline of 82% from the average session volume of 10,834,175 shares. The stock had previously closed at $139.92.

Analyst Upgrades and Downgrades

Several research analysts have commented on ARM shares. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $107.00 to $190.00 in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. 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 report on Thursday, November 7th. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a report on Thursday, August 8th. Finally, Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

ARM Trading Up 0.9 %

The company’s 50-day simple moving average is $143.11 and its 200 day simple moving average is $139.12. The stock has a market cap of $142.87 billion, a P/E ratio of 227.25, a PEG ratio of 6.39 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $810.03 million. During the same period last year, the company posted $0.36 earnings per share. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after buying an additional 806,676 shares during the period. Sei Investments Co. lifted its position in shares of ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares during the period. Marsico Capital Management LLC purchased a new position in shares of ARM in the second quarter valued at $33,207,000. Finally, ProShare Advisors LLC bought a new stake in shares of ARM during the 2nd quarter valued at $16,611,000. 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.