ARM (NASDAQ:ARM) Trading Down 3.9%

Arm Holdings plc (NASDAQ:ARM) traded down 3.9% during mid-day trading on Tuesday . The company traded as low as 133.73 and last traded at 135.88. 3,621,205 shares changed hands during trading, a decline of 71% from the average session volume of 12,688,846 shares. The stock had previously closed at 141.44.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ARM shares. The Goldman Sachs Group boosted their price objective on ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. BNP Paribas lowered shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Friday, April 19th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $107.00 to $190.00 in a research report on Friday, July 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of ARM in a research note on Monday, May 6th. Finally, HSBC cut ARM from a “hold” rating to a “reduce” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, ARM currently has a consensus rating of “Hold” and an average target price of 109.08.

ARM Price Performance

The firm has a 50 day moving average of 152.62 and a two-hundred day moving average of 125.86.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06. ARM had a return on equity of 16.94% and a net margin of 9.46%. The firm had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. During the same period last year, the firm posted $0.02 earnings per share. The business’s revenue for the quarter was up 46.6% on a year-over-year basis. Equities analysts predict that Arm Holdings plc will post 0.81 EPS for the current fiscal year.

Institutional Trading of ARM

Several large investors have recently made changes to their positions in the company. Schroder Investment Management Group bought a new stake in shares of ARM during the fourth quarter valued at approximately $480,194,000. Mubadala Investment Co PJSC purchased a new stake in shares of ARM during the fourth quarter valued at approximately $150,437,000. Wellington Management Group LLP lifted its holdings in ARM by 56.4% during the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after acquiring an additional 1,611,926 shares during the period. Robeco Schweiz AG boosted its position in ARM by 220.3% in the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after purchasing an additional 1,465,000 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in ARM by 15.7% in the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock valued at $552,065,000 after purchasing an additional 994,551 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.