ARM (NASDAQ:ARM) Shares Down 2.5% – Time to Sell?

Arm Holdings plc (NASDAQ:ARM) shares traded down 2.5% on Thursday . The company traded as low as $129.60 and last traded at $133.37. 5,498,108 shares traded hands during trading, a decline of 48% from the average session volume of 10,576,457 shares. The stock had previously closed at $136.72.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ARM shares. Evercore ISI upped their price objective on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Barclays boosted their target price on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Susquehanna boosted their target price on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Loop Capital raised their price objective on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Price Performance

The business’s fifty day moving average price is $143.22 and its two-hundred day moving average price is $141.27. The stock has a market capitalization of $139.75 billion, a PE ratio of 222.29, a price-to-earnings-growth ratio of 6.97 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share 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 business had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

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