ARM (NASDAQ:ARM) Shares Down 4.3%

Shares of Arm Holdings plc (NASDAQ:ARM) traded down 4.3% on Monday . The stock traded as low as 153.32 and last traded at 153.35. 2,709,236 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 13,435,628 shares. The stock had previously closed at 160.30.

Analyst Upgrades and Downgrades

ARM has been the topic of several recent research reports. Wells Fargo & Company upped their price target on ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Mizuho lifted their target price on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, May 9th. New Street Research reissued a “neutral” rating and issued a $110.00 price target on shares of ARM in a research report on Tuesday, February 27th. Finally, KeyCorp boosted their price target on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of 103.68.

ARM Stock Performance

The stock’s 50-day moving average price is 122.40 and its 200-day moving average price is 109.50.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, beating the consensus estimate of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The firm had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 46.6% on a year-over-year basis. Research analysts anticipate that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Institutional Trading of ARM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Advisors LLC acquired a new position in ARM during the 1st quarter worth approximately $726,000. Cetera Investment Advisers bought a new stake in shares of ARM in the 1st quarter valued at $3,425,000. Virtu Financial LLC boosted its stake in shares of ARM by 198.6% in the 1st quarter. Virtu Financial LLC now owns 51,016 shares of the company’s stock valued at $6,376,000 after purchasing an additional 33,931 shares during the last quarter. EMC Capital Management bought a new stake in shares of ARM in the 1st quarter valued at $124,000. Finally, iA Global Asset Management Inc. lifted its position in shares of ARM by 28.2% during the 1st quarter. iA Global Asset Management Inc. now owns 13,944 shares of the company’s stock valued at $1,743,000 after acquiring an additional 3,069 shares during the period. 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.