ARM (NASDAQ:ARM) Trading Down 0.2% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s stock price traded down 0.2% during mid-day trading on Friday . The company traded as low as $165.33 and last traded at $166.29. 2,248,875 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 6,857,441 shares. The stock had previously closed at $166.56.

Analysts Set New Price Targets

A number of research firms have weighed in on ARM. JPMorgan Chase & Co. boosted their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group assumed coverage on ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 target price for the company. Barclays lifted their price target on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Finally, Susquehanna boosted their target price on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $152.09.

ARM Trading Down 2.4 %

The firm has a market cap of $170.29 billion, a P/E ratio of 270.87, a price-to-earnings-growth ratio of 8.41 and a beta of 4.53. The company’s fifty day moving average price is $140.00 and its two-hundred day moving average price is $141.03.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 earnings per share. On average, analysts predict that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in ARM by 20.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 37,902 shares of the company’s stock worth $6,202,000 after buying an additional 6,311 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of ARM by 674.8% during the second quarter. Pacer Advisors Inc. now owns 6,493 shares of the company’s stock worth $1,062,000 after purchasing an additional 5,655 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of ARM during the second quarter valued at approximately $5,684,000. AXA S.A. acquired a new stake in shares of ARM in the second quarter valued at approximately $4,335,000. Finally, Cim Investment Management Inc. bought a new position in ARM in the 2nd quarter worth approximately $1,479,000. 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.