ARM (NASDAQ:ARM) Stock Price Down 2.2%

Arm Holdings plc (NASDAQ:ARMGet Free Report)’s share price traded down 2.2% during mid-day trading on Tuesday . The company traded as low as 122.89 and last traded at 124.37. 2,601,661 shares changed hands during trading, a decline of 80% from the average session volume of 13,293,283 shares. The stock had previously closed at 127.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ARM shares. Daiwa Capital Markets lowered shares of ARM from a “buy” rating to a “neutral” rating and raised their price objective for the company from $63.00 to $130.00 in a report on Friday, February 16th. Sanford C. Bernstein raised their price objective on shares of ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a report on Thursday, May 16th. The Goldman Sachs Group raised their price objective on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Evercore ISI reduced their price objective on shares of ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, BNP Paribas lowered shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a report on Friday, April 19th. One research 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.com, ARM presently has an average rating of “Hold” and a consensus target price of 93.48.

Check Out Our Latest Research Report on ARM

ARM Trading Down 2.3 %

The business’s 50-day simple moving average is 113.94 and its 200-day simple moving average is 99.32.

ARM (NASDAQ:ARMGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of 865.94 million. During the same period in the previous year, the firm earned $0.02 earnings per share. ARM’s revenue was up 46.6% compared to the same quarter last year. Equities analysts expect that Arm Holdings plc will post 0.85 EPS for the current year.

Institutional Investors Weigh In On ARM

Several institutional investors have recently bought and sold shares of ARM. Bank of New York Mellon Corp purchased a new stake in ARM during the third quarter worth approximately $300,000. Jump Financial LLC purchased a new position in shares of ARM in the third quarter valued at $236,000. New York State Common Retirement Fund purchased a new position in shares of ARM in the third quarter valued at $12,486,000. Oppenheimer Asset Management Inc. purchased a new position in shares of ARM in the third quarter valued at $209,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of ARM in the third quarter valued at $259,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Company Profile

(Get Free Report)

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.

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