ARM (NASDAQ:ARM) Shares Down 4.4% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) dropped 4.4% during trading on Friday . The stock traded as low as $138.02 and last traded at $138.85. Approximately 1,295,900 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 4,694,972 shares. The stock had previously closed at $145.20.

Wall Street Analysts Forecast Growth

ARM has been the subject of several recent analyst reports. TD Cowen upped their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays upped their price objective on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Benchmark assumed coverage on ARM in a research report on Monday, September 16th. They set a “hold” rating on the stock. The Goldman Sachs Group boosted their target price on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Loop Capital raised their target price on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ARM has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Trading Down 3.2 %

The stock has a market capitalization of $147.21 billion, a PE ratio of 234.15, a P/E/G ratio of 7.15 and a beta of 4.53. The stock has a 50 day moving average price of $137.36 and a 200-day moving average price of $141.91.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $810.03 million. During the same period last year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts forecast that Arm Holdings plc will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Institutional investors have recently bought and sold shares of the stock. Watts Gwilliam & Co. LLC lifted its position in shares of ARM by 15.5% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 8,109 shares of the company’s stock valued at $1,000,000 after acquiring an additional 1,088 shares in the last quarter. Diversified Trust Co bought a new stake in shares of ARM in the fourth quarter worth about $301,000. Fortem Financial Group LLC lifted its position in shares of ARM by 4.9% in the fourth quarter. Fortem Financial Group LLC now owns 7,550 shares of the company’s stock worth $931,000 after buying an additional 350 shares in the last quarter. Capital Market Strategies LLC bought a new position in ARM during the fourth quarter valued at approximately $694,000. Finally, Modus Advisors LLC grew its holdings in ARM by 300.2% during the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after buying an additional 13,453 shares in the last quarter. 7.53% of the stock is owned by 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.