ARM (NASDAQ:ARM) Stock Price Down 4.4%

Arm Holdings plc (NASDAQ:ARM) was down 4.4% during trading on Monday . The company traded as low as 152.55 and last traded at 156.50. Approximately 4,497,346 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 13,290,654 shares. The stock had previously closed at 163.62.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ARM. Wells Fargo & Company boosted their price target on shares of ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. KeyCorp upped their target price on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, May 9th. Bank of America increased their price objective on ARM from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of ARM in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of 103.68.

ARM Price Performance

The business has a fifty day simple moving average of 126.31 and a 200 day simple moving average of 111.61.

ARM (NASDAQ:ARM) last announced its quarterly earnings data 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 analysts’ expectations of 865.94 million. During the same quarter last year, the business earned $0.02 earnings per share. The business’s revenue for the quarter was up 46.6% compared to the same quarter last year. Equities research analysts expect that Arm Holdings plc will post 0.85 EPS for the current year.

Institutional Investors Weigh In On ARM

A number of institutional investors and hedge funds have recently modified their holdings of ARM. BOKF NA raised its position in shares of ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the last quarter. Comerica Bank lifted its position in shares of ARM by 6.1% in the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after acquiring an additional 103 shares in the last quarter. Naples Money Management LLC boosted its stake in shares of ARM by 47.8% during the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after acquiring an additional 110 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC increased its position in ARM by 2.9% during the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after purchasing an additional 145 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd raised its stake in ARM by 14.8% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 1,550 shares of the company’s stock valued at $195,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.