ARM (NASDAQ:ARM) Stock Price Down 4.4% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s stock price was down 4.4% on Wednesday . The stock traded as low as $130.23 and last traded at $130.71. Approximately 1,447,244 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 10,556,180 shares. The stock had previously closed at $136.72.

Analysts Set New Price Targets

A number of analysts have recently commented on ARM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, November 7th. TD Cowen boosted their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Susquehanna raised their price objective on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Citigroup boosted their target price on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ARM presently has an average rating of “Moderate Buy” and a consensus price target of $150.32.

ARM Stock Down 2.5 %

The firm has a market capitalization of $139.75 billion, a P/E ratio of 216.87, a price-to-earnings-growth ratio of 6.97 and a beta of 5.40. The company’s 50 day moving average is $143.32 and its 200-day moving average is $141.32.

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

Hedge Funds Weigh In On ARM

A number of large investors have recently modified their holdings of ARM. Franklin Resources Inc. raised its holdings in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after buying an additional 228,467 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of ARM in the 3rd quarter worth about $419,000. Virtu Financial LLC acquired a new position in ARM during the 3rd quarter valued at about $1,163,000. Hobbs Group Advisors LLC increased its holdings in ARM by 7.4% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after purchasing an additional 100 shares in the last quarter. Finally, Fortem Financial Group LLC increased its holdings in ARM by 6.4% during the 3rd quarter. Fortem Financial Group LLC now owns 7,200 shares of the company’s stock worth $1,030,000 after purchasing an additional 430 shares in the last quarter. 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.