ARM (NASDAQ:ARM) Stock Price Down 1.6% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM) shares were down 1.6% on Tuesday . The stock traded as low as $136.88 and last traded at $137.48. Approximately 889,247 shares were traded during trading, a decline of 92% from the average daily volume of 10,590,916 shares. The stock had previously closed at $139.68.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ARM shares. TD Cowen upped their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Raymond James started coverage on shares of ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price objective for the company. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research report on Thursday, October 31st. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday, August 8th. Finally, Benchmark started coverage on shares of ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.32.

ARM Stock Down 2.8 %

The company has a 50 day moving average price of $143.32 and a 200-day moving average price of $141.12. The company has a market cap of $142.24 billion, a price-to-earnings ratio of 229.14, a P/E/G ratio of 6.79 and a beta of 5.40.

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

Institutional Trading of ARM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARM. ORG Partners LLC acquired a new stake in ARM during the 3rd quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new position in shares of ARM during the 2nd quarter worth approximately $33,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares in the last quarter. RiverPark Advisors LLC boosted its holdings in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of ARM during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.