ARM (NASDAQ:ARM) Stock Price Down 7.9% – Should You Sell?

Shares of Arm Holdings plc (NASDAQ:ARM) dropped 7.9% during trading on Thursday . The stock traded as low as $162.50 and last traded at $165.80. Approximately 9,814,471 shares were traded during trading, an increase of 48% from the average daily volume of 6,635,503 shares. The stock had previously closed at $179.93.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Susquehanna upped their price objective on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group initiated coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price target for the company. The Goldman Sachs Group raised their price objective on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, TD Cowen increased their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $152.09.

ARM Trading Down 2.4 %

The stock has a market capitalization of $170.29 billion, a PE ratio of 270.87, a P/E/G ratio of 8.41 and a beta of 4.53. The stock has a 50 day moving average price of $140.00 and a 200-day moving average price of $141.03.

ARM (NASDAQ:ARM) last announced 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. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same period last year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts forecast that Arm Holdings plc will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. ORG Partners LLC purchased a new position in ARM during the third quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC increased its position in shares of ARM by 83.0% during 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. Quantbot Technologies LP purchased a new stake in shares of ARM in the third quarter valued at $52,000. Berbice Capital Management LLC bought a new stake in ARM in the fourth quarter worth about $49,000. Finally, Farther Finance Advisors LLC increased its stake in ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors 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.