ARM (NASDAQ:ARM) Trading Down 3.1% – Should You Sell?

Arm Holdings plc (NASDAQ:ARM)’s stock price was down 3.1% during mid-day trading on Monday . The stock traded as low as $141.16 and last traded at $142.95. Approximately 2,689,340 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 10,882,521 shares. The stock had previously closed at $147.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ARM shares. Benchmark began coverage on ARM in a report on Monday, September 16th. They set a “hold” rating for the company. Barclays upped their price objective on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Evercore ISI raised their target price on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Finally, Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Price Performance

The business has a 50 day simple moving average of $142.83 and a 200 day simple moving average of $139.15. The company has a market capitalization of $141.55 billion, a price-to-earnings ratio of 227.85, a PEG ratio of 6.39 and a beta of 5.40.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. ARM’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. On average, equities research analysts predict that Arm Holdings plc will post 0.86 EPS for the current year.

Institutional Trading of ARM

Several hedge funds have recently modified their holdings of ARM. RiverPark Advisors LLC increased its holdings in ARM by 45.3% during 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. Hexagon Capital Partners LLC grew its position in shares of ARM by 14.0% during the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after buying an additional 77 shares in the last quarter. BOKF NA increased its stake in shares of ARM by 33.3% during the first quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System raised its holdings in ARM by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after acquiring an additional 100 shares in the last quarter. Finally, Great Valley Advisor Group Inc. lifted its stake in ARM by 5.5% in the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after acquiring an additional 102 shares during the last quarter. 7.53% of the stock is currently 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.