ARM (NASDAQ:ARM) Trading Down 3%

Arm Holdings plc (NASDAQ:ARM) shares were down 3% during trading on Thursday . The stock traded as low as 178.25 and last traded at 180.79. Approximately 3,054,340 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 13,035,391 shares. The stock had previously closed at 186.46.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Susquehanna reaffirmed a “neutral” rating and set a $85.00 price target on shares of ARM in a research note on Thursday, April 4th. Sanford C. Bernstein increased their target price on ARM from $72.00 to $92.00 and gave the stock an “underperform” rating in a report on Thursday, May 16th. Wells Fargo & Company lifted their price target on shares of ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. KeyCorp upped their price objective on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, BNP Paribas cut shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, ARM presently has an average rating of “Hold” and an average target price of 103.68.

ARM Stock Performance

The company has a 50-day moving average of 138.40 and a 200 day moving average of 117.14.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, topping the consensus estimate of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The company had revenue of 928.00 million for the quarter, compared to analysts’ expectations of 865.94 million. During the same period in the prior year, the business earned $0.02 earnings per share. ARM’s revenue for the quarter was up 46.6% compared to the same quarter last year. As a group, equities research analysts predict that Arm Holdings plc will post 0.85 EPS for the current year.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently modified their holdings of the company. BOKF NA boosted its holdings in ARM by 33.3% during the 1st 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. Comerica Bank boosted its stake in shares of ARM by 6.1% during the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC grew its holdings in shares of ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in shares of ARM by 2.9% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after buying an additional 145 shares during the period. Finally, JTC Employer Solutions Trustee Ltd boosted its position in ARM by 14.8% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 1,550 shares of the company’s stock valued at $195,000 after buying an additional 200 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.