ARM (NASDAQ:ARM) Stock Price Down 5.6%

Arm Holdings plc (NASDAQ:ARM)’s share price traded down 5.6% on Wednesday . The stock traded as low as 159.80 and last traded at 162.08. 3,768,365 shares traded hands during trading, a decline of 70% from the average session volume of 12,741,712 shares. The stock had previously closed at 171.70.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Bank of America increased their price objective on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. The Goldman Sachs Group lifted their price objective on ARM from $110.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Wells Fargo & Company increased their target price on shares of ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. BNP Paribas cut shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a research report on Friday, April 19th. Finally, KeyCorp boosted their price objective on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus price target of 109.08.

ARM Stock Performance

The stock has a 50-day moving average of 151.23 and a 200 day moving average of 124.08.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The firm had revenue of 928.00 million during the quarter, compared to analyst estimates of 865.94 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. ARM’s quarterly revenue was up 46.6% on a year-over-year basis. As a group, analysts forecast that Arm Holdings plc will post 0.81 EPS for the current year.

Hedge Funds Weigh In On ARM

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC increased its position in shares of ARM by 72.6% during the fourth quarter. SG Americas Securities LLC now owns 5,494 shares of the company’s stock valued at $413,000 after acquiring an additional 2,311 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of ARM during the fourth quarter worth $65,000. Pinnacle Associates Ltd. acquired a new stake in shares of ARM in the fourth quarter valued at $2,600,000. WT Asset Management Ltd purchased a new stake in shares of ARM in the 4th quarter valued at $3,006,000. Finally, FengHe Fund Management Pte. Ltd. lifted its stake in ARM by 15.2% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 426,914 shares of the company’s stock worth $32,080,000 after acquiring an additional 56,351 shares in the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.