ARM (NASDAQ:ARM) Shares Down 1% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) was down 1% during mid-day trading on Tuesday . The stock traded as low as $147.03 and last traded at $147.83. Approximately 1,241,637 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 4,270,241 shares. The stock had previously closed at $149.26.

Wall Street Analyst Weigh In

ARM has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. Loop Capital lifted their price target on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen upped their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group began coverage on shares of ARM in a report on Monday, November 25th. They set a “buy” rating and a $160.00 target price for the company. Finally, Evercore ISI increased their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ARM currently has an average rating of “Moderate Buy” and an average target price of $152.09.

ARM Trading Down 7.4 %

The company has a market capitalization of $174.53 billion, a PE ratio of 277.60, a P/E/G ratio of 7.25 and a beta of 4.53. The stock has a fifty day simple moving average of $138.72 and a 200-day simple moving average of $141.01.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping 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 company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Arm Holdings plc will post 0.84 EPS for the current year.

Hedge Funds Weigh In On ARM

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its stake in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after acquiring an additional 228,467 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of ARM in the fourth quarter valued at $22,705,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of ARM during the third quarter valued at $11,646,000. 7.53% of the stock is 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.