ARM (NASDAQ:ARM) Shares Down 1.1% – Time to Sell?

Arm Holdings plc (NASDAQ:ARM)’s stock price traded down 1.1% during trading on Friday . The stock traded as low as $126.70 and last traded at $128.24. 904,019 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 10,104,135 shares. The stock had previously closed at $129.69.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ARM shares. Raymond James began coverage on ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target for the company. JPMorgan Chase & Co. increased 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. Susquehanna lifted their price target on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. William Blair initiated coverage on shares of ARM in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, The Goldman Sachs Group lifted their target price on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Stock Performance

The company has a market capitalization of $134.46 billion, a PE ratio of 213.87, a P/E/G ratio of 7.15 and a beta of 4.67. The stock has a 50 day moving average price of $140.08 and a two-hundred day moving average price of $143.73.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter last year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Several hedge funds have recently bought and sold shares of ARM. ORG Partners LLC acquired a new stake in shares of ARM in the third quarter worth $29,000. Gilliland Jeter Wealth Management LLC grew its position in shares of ARM by 83.0% in the third 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. Larson Financial Group LLC bought a new position in shares of ARM in the second quarter worth about $47,000. Alta Advisers Ltd acquired a new position in shares of ARM during the 2nd quarter worth about $49,000. Finally, Quantbot Technologies LP bought a new stake in ARM during the 3rd quarter valued at approximately $52,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.