ARM (NASDAQ:ARM) Trading Down 1.3% – Should You Sell?

Arm Holdings plc (NASDAQ:ARM)’s share price dropped 1.3% during mid-day trading on Tuesday . The stock traded as low as $139.93 and last traded at $140.06. Approximately 1,342,433 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 10,862,437 shares. The stock had previously closed at $141.96.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ARM shares. JPMorgan Chase & Co. boosted their price target on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Evercore ISI lifted their price objective on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Benchmark started coverage on ARM in a report on Monday, September 16th. They issued a “hold” rating for the company. William Blair started coverage on ARM in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Daiwa Capital Markets upgraded 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Stock Down 1.4 %

The firm has a 50-day moving average price of $142.50 and a two-hundred day moving average price of $138.88. The firm has a market cap of $146.61 billion, a PE ratio of 233.44, a P/E/G ratio of 6.72 and a beta of 5.40.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Research analysts forecast that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Several institutional investors have recently modified their holdings of ARM. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of ARM during the first quarter worth $25,000. ORG Partners LLC bought a new position in shares of ARM during the 3rd quarter valued at $29,000. Transcendent Capital Group LLC bought a new position in ARM during the 2nd quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC grew its holdings in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the period. Finally, RiverPark Advisors LLC raised its position in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares in the last quarter. 7.53% of the stock is 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.