ARM (NASDAQ:ARM) Stock Price Down 3.5% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) were down 3.5% during trading on Thursday . The stock traded as low as $158.70 and last traded at $167.16. Approximately 7,349,913 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 7,050,847 shares. The stock had previously closed at $173.26.

Analyst Upgrades and Downgrades

Several analysts have commented on ARM shares. Citigroup boosted their target price on shares of ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group upped their price objective on shares of ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday. Rosenblatt Securities upped their price objective on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price objective on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Stock Performance

The firm has a market cap of $175.80 billion, a price-to-earnings ratio of 279.34, a PEG ratio of 7.46 and a beta of 4.56. The business’s 50-day moving average is $143.45 and its 200-day moving average is $139.80.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million during 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%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. Equities research analysts expect that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC acquired a new stake in ARM in the 3rd quarter valued at about $29,000. Gilliland Jeter Wealth Management LLC boosted 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 valued at $37,000 after purchasing an additional 117 shares during the last quarter. Berbice Capital Management LLC bought a new position in shares of ARM in the 4th quarter valued at about $49,000. Quantbot Technologies LP bought a new position in shares of ARM in the 3rd quarter valued at about $52,000. Finally, Farther Finance Advisors LLC boosted 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 valued at $60,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Company Profile

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.