ARM (NASDAQ:ARM) Stock Price Down 0.3% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) fell 0.3% during mid-day trading on Thursday . The stock traded as low as $144.23 and last traded at $146.94. 1,830,939 shares were traded during trading, a decline of 58% from the average session volume of 4,326,881 shares. The stock had previously closed at $147.40.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARM. Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a report on Thursday, October 31st. Susquehanna lifted their price objective on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average price target of $151.09.

ARM Trading Up 1.2 %

The firm has a 50-day moving average of $137.37 and a 200-day moving average of $141.39. The stock has a market capitalization of $156.40 billion, a price-to-earnings ratio of 248.77, a P/E/G ratio of 6.57 and a beta of 4.53.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period in the prior year, the firm earned $0.36 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current year.

Institutional Investors Weigh In On ARM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARM. ORG Partners LLC acquired a new stake in ARM during the 3rd quarter worth about $29,000. Gilliland Jeter Wealth Management LLC boosted its stake in shares of ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of ARM during the 3rd quarter worth about $52,000. Farther Finance Advisors LLC boosted its stake in shares of ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares in the last quarter. Finally, First Community Trust NA purchased a new stake in shares of ARM during the 3rd quarter worth about $70,000. 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.