ARM (NASDAQ:ARM) Shares Down 5.4% – Here’s Why

Shares of Arm Holdings plc (NASDAQ:ARM) dropped 5.4% on Friday . The stock traded as low as $128.45 and last traded at $128.95. Approximately 2,756,694 shares changed hands during trading, a decline of 74% from the average daily volume of 10,782,024 shares. The stock had previously closed at $136.35.

Analyst Upgrades and Downgrades

ARM has been the topic of several recent research reports. Barclays raised their price target on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of ARM in a research report on Thursday, August 1st. Evercore ISI boosted their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased 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, Citigroup boosted their target price on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

ARM Stock Down 6.6 %

The stock’s 50-day moving average is $143.37 and its 200 day moving average is $139.10. The stock has a market capitalization of $133.39 billion, a PE ratio of 214.92, a P/E/G ratio of 6.75 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Arm Holdings plc will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARM. International Assets Investment Management LLC lifted its stake in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the period. Sei Investments Co. lifted its position in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of ARM by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock valued at $36,366,000 after purchasing an additional 14,584 shares in the last quarter. Finally, Mark Asset Management LP increased its holdings in ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after buying an additional 29,686 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.