ARM (NASDAQ:ARM) Shares Down 1.4%

Shares of Arm Holdings plc (NASDAQ:ARM) dropped 1.4% during trading on Thursday . The company traded as low as 102.58 and last traded at 106.07. Approximately 5,905,339 shares traded hands during trading, a decline of 60% from the average daily volume of 14,639,326 shares. The stock had previously closed at 107.56.

Wall Street Analyst Weigh In

ARM has been the subject of a number of research reports. Susquehanna reaffirmed a “neutral” rating and set a $85.00 target price on shares of ARM in a report on Thursday, April 4th. Evercore ISI assumed coverage on shares of ARM in a research note on Tuesday. They issued an “outperform” rating and a $156.00 price objective for the company. TD Cowen increased their price objective on shares of ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Daiwa Capital Markets cut shares of ARM from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. Finally, New Street Research reissued a “neutral” rating and issued a $110.00 price objective on shares of ARM in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and an average target price of 89.88.

ARM Stock Performance

The company’s 50-day simple moving average is 129.18 and its 200 day simple moving average is 85.98.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. The business’s revenue was up 13.8% on a year-over-year basis. On average, equities research analysts forecast that Arm Holdings plc will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Institutional investors have recently made changes to their positions in the company. Jennison Associates LLC increased its stake in ARM by 15.7% in the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after buying an additional 994,551 shares during the period. Schroder Investment Management Group purchased a new position in ARM in the 4th quarter worth about $480,194,000. FMR LLC purchased a new position in ARM in the 3rd quarter worth about $242,812,000. Wellington Management Group LLP increased its stake in ARM by 56.4% in the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after buying an additional 1,611,926 shares during the period. Finally, Invesco Ltd. purchased a new position in ARM in the 3rd quarter worth about $143,092,000. 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.