ARM (NASDAQ:ARM) Shares Down 5.5%

Arm Holdings plc (NASDAQ:ARM) fell 5.5% during trading on Friday . The stock traded as low as 97.80 and last traded at 99.18. 5,960,016 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 14,583,444 shares. The stock had previously closed at 104.92.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ARM. Barclays boosted their price target on shares of ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. BNP Paribas lowered ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research report on Friday. Mizuho increased their target price on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Evercore ISI started coverage on ARM in a report on Tuesday. They issued an “outperform” rating and a $156.00 price target on the stock. Finally, TD Cowen increased their price objective on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of 90.28.

ARM Stock Down 10.7 %

The company’s fifty day simple moving average is 129.00 and its two-hundred day simple moving average is 86.11.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The business had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that Arm Holdings plc will post 0.36 earnings per share for the current year.

Institutional Trading of ARM

Institutional investors and hedge funds have recently made changes to their positions in the company. SOA Wealth Advisors LLC. bought a new stake in shares of ARM during the 1st quarter worth $35,000. Hoey Investments Inc. acquired a new stake in shares of ARM in the 3rd quarter valued at approximately $27,000. Centerpoint Advisors LLC bought a new stake in shares of ARM during the 3rd quarter valued at approximately $32,000. Ancora Advisors LLC acquired a new position in ARM during the 3rd quarter worth approximately $32,000. Finally, Northwest Financial Advisors bought a new position in ARM in the 4th quarter valued at approximately $46,000. Institutional investors own 7.53% of the company’s stock.

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.