ARM (NASDAQ:ARM) Trading Down 0.1% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) shares were down 0.1% during trading on Friday . The company traded as low as $131.90 and last traded at $133.05. Approximately 1,090,347 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 10,649,838 shares. The stock had previously closed at $133.14.

Wall Street Analyst Weigh In

ARM has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Benchmark began coverage on shares of ARM in a research note on Monday, September 16th. They issued a “hold” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Citigroup upped their price objective on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, TD Cowen lifted their target price on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.86.

ARM Price Performance

The stock’s 50-day moving average is $143.30 and its two-hundred day moving average is $140.63. The company has a market cap of $142.49 billion, a P/E ratio of 226.65, a P/E/G ratio of 6.65 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its quarterly 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 the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. On average, analysts predict that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Partners LLC purchased a new stake in ARM during the third quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new stake in shares of ARM during the 2nd quarter valued at $33,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. RiverPark Advisors LLC raised its holdings in ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the period. Finally, Mather Group LLC. purchased a new position in ARM during the second quarter valued at $41,000. 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.