ARM (NASDAQ:ARM) Stock Price Down 0.3% – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s stock price dropped 0.3% on Thursday . The stock traded as low as $144.23 and last traded at $146.94. Approximately 1,830,939 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 4,326,881 shares. The stock had previously closed at $147.40.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. TD Cowen upped their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Loop Capital lifted their price objective on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group assumed coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average target price of $150.64.

ARM Trading Up 0.9 %

The company has a fifty day moving average of $137.34 and a 200-day moving average of $141.38. The stock has a market cap of $155.83 billion, a PE ratio of 247.16, a P/E/G ratio of 6.57 and a beta of 4.53.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping 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 company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Arm Holdings plc will post 0.84 earnings per share for the current fiscal year.

Institutional Trading of ARM

Several hedge funds have recently modified their holdings of ARM. ORG Partners LLC purchased a new stake in ARM during the 3rd quarter worth about $29,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares during the period. Quantbot Technologies LP acquired a new stake in ARM in the third quarter valued at approximately $52,000. Farther Finance Advisors LLC lifted its stake in ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares during the last quarter. Finally, First Community Trust NA acquired a new position in ARM during the 3rd quarter worth approximately $70,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.