ARM (NASDAQ:ARM) Trading Down 3.3%

Arm Holdings plc (NASDAQ:ARM)’s share price fell 3.3% during mid-day trading on Friday . The company traded as low as $118.25 and last traded at $119.08. 2,173,162 shares traded hands during trading, a decline of 82% from the average session volume of 12,146,425 shares. The stock had previously closed at $123.09.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised their target price on ARM from $110.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a report on Thursday, August 8th. Guggenheim upped their price target on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Loop Capital raised their price objective on shares of ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.56.

ARM Price Performance

The business’s 50-day simple moving average is $143.99 and its two-hundred day simple moving average is $132.75. The stock has a market capitalization of $122.63 billion and a price-to-earnings ratio of 140.35.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 earnings per share. As a group, sell-side analysts expect that Arm Holdings plc will post 0.82 EPS for the current year.

Institutional Investors Weigh In On ARM

Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ARM by 49.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock valued at $117,000 after purchasing an additional 514 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of ARM during the fourth quarter worth approximately $102,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of ARM in the fourth quarter worth $118,000. National Bank of Canada FI raised its holdings in ARM by 700.0% in the fourth quarter. National Bank of Canada FI now owns 800 shares of the company’s stock valued at $55,000 after acquiring an additional 700 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in ARM in the fourth quarter valued at $226,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.