ARM (NASDAQ:ARM) Stock Price Down 1.6% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price fell 1.6% during mid-day trading on Tuesday . The company traded as low as $136.88 and last traded at $137.48. 889,247 shares changed hands during trading, a decline of 92% from the average session volume of 10,590,916 shares. The stock had previously closed at $139.68.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARM. TD Cowen increased their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. UBS Group assumed coverage on shares of ARM in a research report on Monday. They issued a “buy” rating and a $160.00 price objective for the company. Evercore ISI raised their price objective on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Loop Capital raised their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Stock Down 2.8 %

The firm has a market capitalization of $142.24 billion, a price-to-earnings ratio of 229.14, a P/E/G ratio of 6.79 and a beta of 5.40. The stock’s fifty day moving average is $143.32 and its two-hundred day moving average is $141.12.

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

Hedge Funds Weigh In On ARM

Institutional investors and hedge funds have recently modified their holdings of the stock. RiverPark Advisors LLC boosted its position in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of ARM by 14.0% in the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after acquiring an additional 77 shares during the period. BOKF NA boosted its position in shares of ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of ARM by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after acquiring an additional 100 shares during the period. Finally, Hobbs Group Advisors LLC boosted its position in shares of ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after acquiring an additional 100 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.