ARM (NASDAQ:ARM) Trading Down 1.8%

Arm Holdings plc (NASDAQ:ARM) fell 1.8% during mid-day trading on Wednesday . The company traded as low as $109.38 and last traded at $111.34. 5,495,993 shares traded hands during trading, a decline of 57% from the average session volume of 12,864,104 shares. The stock had previously closed at $113.39.

Analyst Upgrades and Downgrades

ARM has been the subject of several research reports. Sanford C. Bernstein upgraded shares of ARM from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $92.00 to $100.00 in a research report on Wednesday. The Goldman Sachs Group raised their price objective on ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. BNP Paribas lowered ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a research report on Friday, April 19th. TD Cowen increased their price target on ARM from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Loop Capital upped their price objective on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a 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 $121.56.

ARM Stock Performance

The firm’s 50-day moving average is $153.46 and its two-hundred day moving average is $128.01. The stock has a market cap of $113.56 billion and a P/E ratio of 129.27.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. During the same quarter last year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. As a group, research analysts forecast that Arm Holdings plc will post 0.82 EPS for the current year.

Institutional Trading of ARM

Several hedge funds have recently added to or reduced their stakes in ARM. Mark Sheptoff Financial Planning LLC bought a new position in shares of ARM in the 1st quarter valued at about $25,000. Transcendent Capital Group LLC acquired a new stake in ARM in the second quarter valued at $33,000. RiverPark Advisors LLC grew its position in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the period. Mather Group LLC. acquired a new position in shares of ARM during the 2nd quarter worth about $41,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of ARM in the 1st quarter valued at about $35,000. Institutional investors and hedge funds 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.