ARM (NASDAQ:ARM) Stock Price Down 7.9%

Arm Holdings plc (NASDAQ:ARM) shares traded down 7.9% on Wednesday . The stock traded as low as 112.38 and last traded at 112.52. 6,718,201 shares were traded during trading, a decline of 54% from the average session volume of 14,568,618 shares. The stock had previously closed at 122.22.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. New Street Research reissued a “neutral” rating and set a $110.00 price objective on shares of ARM in a report on Tuesday, February 27th. KeyCorp upped their target price on shares of ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Daiwa Capital Markets downgraded shares of ARM from a “buy” rating to a “neutral” rating and increased their target price for the company from $63.00 to $130.00 in a research note on Friday, February 16th. Finally, Evercore ISI assumed coverage on shares of ARM in a research note on Tuesday. They issued an “outperform” rating and a $156.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, ARM presently has an average rating of “Hold” and a consensus price target of 90.28.

ARM Stock Performance

The business’s 50-day simple moving average is 129.00 and its two-hundred day simple moving average is 86.11.

ARM (NASDAQ:ARM) last announced its quarterly earnings data 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 business’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts anticipate that Arm Holdings plc will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Jennison Associates LLC grew its holdings in ARM by 15.7% during the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after acquiring an additional 994,551 shares in the last quarter. Schroder Investment Management Group acquired a new position in ARM during the 4th quarter worth approximately $480,194,000. FMR LLC acquired a new position in ARM during the 3rd quarter worth approximately $242,812,000. Wellington Management Group LLP grew its holdings in ARM by 56.4% during the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after acquiring an additional 1,611,926 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in ARM during the 3rd quarter worth approximately $143,092,000. Institutional investors and hedge funds 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.