ARM (NASDAQ:ARM) Stock Price Down 0.1%

Arm Holdings plc (NASDAQ:ARM)’s share price dropped 0.1% during trading on Wednesday . The company traded as low as $128.29 and last traded at $129.80. Approximately 1,534,446 shares were traded during trading, a decline of 88% from the average daily volume of 12,553,131 shares. The stock had previously closed at $129.95.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ARM. HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. TD Cowen increased their price objective on shares of ARM from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Guggenheim boosted their target price on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of ARM in a research report on Thursday, August 1st. Finally, Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.56.

ARM Trading Up 4.6 %

The stock has a market capitalization of $142.12 billion and a PE ratio of 138.24. The business’s 50 day moving average is $150.87 and its 200 day moving average is $131.52.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business had revenue of $939.00 million during the quarter, compared to analyst estimates of $905.53 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. As a group, analysts anticipate that Arm Holdings plc will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ARM

A number of institutional investors have recently modified their holdings of ARM. Schroder Investment Management Group purchased a new position in shares of ARM during the fourth quarter valued at $480,194,000. Mubadala Investment Co PJSC bought a new stake in shares of ARM in the 4th quarter valued at about $150,437,000. Wellington Management Group LLP lifted its position in shares of ARM by 56.4% in the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after purchasing an additional 1,611,926 shares during the period. Robeco Schweiz AG boosted its stake in shares of ARM by 220.3% during the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after purchasing an additional 1,465,000 shares in the last quarter. Finally, Capstone Investment Advisors LLC increased its holdings in ARM by 362.6% during the fourth quarter. Capstone Investment Advisors LLC now owns 902,000 shares of the company’s stock valued at $67,781,000 after buying an additional 707,000 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.