ARM (NASDAQ:ARM) Trading Down 3.3% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price was down 3.3% on Tuesday . The company traded as low as $140.17 and last traded at $142.51. Approximately 2,657,124 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 5,029,801 shares. The stock had previously closed at $147.41.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Benchmark assumed coverage on ARM in a report on Monday, September 16th. They issued a “hold” rating for the company. Wells Fargo & Company started coverage on ARM in a research note on Friday, November 22nd. They set an “overweight” rating and a $155.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Susquehanna upped their price objective on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, UBS Group started coverage on shares of ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Trading Down 2.0 %

The stock has a fifty day simple moving average of $137.74 and a two-hundred day simple moving average of $142.18. The company has a market cap of $151.34 billion, a PE ratio of 240.72, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares in the last quarter. International Assets Investment Management LLC grew its holdings in ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares during the last quarter. Sei Investments Co. increased its position in shares of ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares during the last quarter. Finally, Mark Asset Management LP boosted its position in shares of ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after buying an additional 29,686 shares in the last quarter. 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.