ARM (NASDAQ:ARM) Shares Down 1.1% – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s stock price was down 1.1% during mid-day trading on Thursday . The stock traded as low as $131.13 and last traded at $132.20. Approximately 1,728,098 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 10,681,520 shares. The stock had previously closed at $133.70.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ARM shares. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of ARM in a research report on Thursday, August 1st. William Blair started coverage on ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Benchmark started coverage on ARM in a research report on Monday, September 16th. They set a “hold” rating on the stock. The Goldman Sachs Group increased their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating 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, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.86.

ARM Trading Up 2.1 %

The company has a market cap of $142.49 billion, a price-to-earnings ratio of 226.65, a price-to-earnings-growth ratio of 6.64 and a beta of 5.40. The firm has a 50-day moving average price of $143.30 and a 200 day moving average price of $140.40.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in ARM during the 3rd quarter worth $1,163,000. Hobbs Group Advisors LLC boosted its position 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 acquiring an additional 100 shares during the period. Fortem Financial Group LLC boosted its position 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 acquiring an additional 430 shares during the period. Sunbelt Securities Inc. boosted its position in ARM by 45.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,675 shares of the company’s stock worth $383,000 after acquiring an additional 835 shares during the period. Finally, Toronto Dominion Bank acquired a new position in ARM during the 3rd quarter worth $254,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.