ARM (NASDAQ:ARM) Trading Down 0.9% – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s stock price fell 0.9% on Monday . The company traded as low as $150.91 and last traded at $151.65. 646,582 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 11,207,962 shares. The stock had previously closed at $153.03.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ARM. Evercore ISI increased their price target on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. William Blair started coverage on shares of ARM in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Citigroup raised their target price on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, August 1st. Finally, Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

ARM Price Performance

The firm’s 50 day moving average is $137.10 and its two-hundred day moving average is $135.20. The firm has a market capitalization of $159.18 billion and a P/E ratio of 388.86.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. During the same period last year, the business earned $0.24 earnings per share. The firm’s revenue was up 39.1% on a year-over-year basis. Analysts anticipate that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mark Sheptoff Financial Planning LLC acquired a new position in ARM in the first quarter valued at about $25,000. ORG Partners LLC bought a new stake in shares of ARM during the third quarter worth about $29,000. Transcendent Capital Group LLC bought a new stake in shares of ARM during the second quarter worth about $33,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares during the last quarter. Finally, RiverPark Advisors LLC grew its holdings in shares of ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

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.