ARM (NASDAQ:ARM) Stock Price Down 0.2%

Arm Holdings plc (NASDAQ:ARM)’s stock price traded down 0.2% on Tuesday . The company traded as low as 120.91 and last traded at 122.05. 1,884,956 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 14,663,163 shares. The stock had previously closed at 122.32.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Susquehanna reiterated a “neutral” rating and issued a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. Rosenblatt Securities raised their price objective on ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Evercore ISI started coverage on ARM in a research report on Tuesday. They set an “outperform” rating and a $156.00 price objective for the company. TD Cowen raised their price objective on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Finally, Mizuho raised their price objective on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of 89.88.

ARM Stock Down 12.0 %

The stock has a 50 day moving average of 129.18 and a two-hundred day moving average of 85.98.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, topping the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts predict that Arm Holdings plc will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of ARM

A number of institutional investors and hedge funds have recently modified their holdings of the company. Griffin Asset Management Inc. bought a new stake in shares of ARM during the first quarter valued at approximately $246,000. Harbour Capital Advisors LLC increased its position in shares of ARM by 10.0% during the first quarter. Harbour Capital Advisors LLC now owns 6,050 shares of the company’s stock valued at $752,000 after purchasing an additional 550 shares during the period. Sovereign Financial Group Inc. bought a new stake in shares of ARM during the first quarter valued at approximately $266,000. Sunbelt Securities Inc. bought a new stake in shares of ARM during the first quarter valued at approximately $169,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of ARM during the first quarter valued at approximately $440,000. 7.53% of the stock is currently owned by 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.