ARM (NASDAQ:ARM) Shares Down 0.8% – Time to Sell?

Arm Holdings plc (NASDAQ:ARM)’s stock price fell 0.8% during trading on Tuesday . The company traded as low as $149.83 and last traded at $151.20. 1,306,158 shares changed hands during trading, a decline of 88% from the average session volume of 11,181,641 shares. The stock had previously closed at $152.35.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Loop Capital upped their price target on ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $107.00 to $190.00 in a research note on Friday, July 19th. Finally, Raymond James began coverage on ARM in a research report on Friday, September 13th. They issued an “outperform” rating and a $160.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $138.57.

ARM Stock Up 0.1 %

The stock has a market cap of $159.73 billion and a price-to-earnings ratio of 390.45. The stock has a fifty day moving average of $137.81 and a two-hundred day moving average of $135.42.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. During the same quarter last year, the firm posted $0.24 EPS. The business’s revenue was up 39.1% compared to the same quarter last year. On average, research analysts expect that Arm Holdings plc will post 0.86 EPS for the current year.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently bought and sold shares of the company. Willner & Heller LLC increased its position in shares of ARM by 193.7% in the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after buying an additional 4,484 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after acquiring an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. raised its holdings in ARM by 156.3% in the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after buying an additional 11,220 shares during the period. Vontobel Holding Ltd. increased its holdings in ARM by 42.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 26,102 shares of the company’s stock valued at $3,733,000 after purchasing an additional 7,790 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in ARM in the second quarter valued at approximately $4,090,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.