ARM (NASDAQ:ARM) Stock Price Down 1.3% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) was down 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 traded 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 Analysts Forecast Growth

Several analysts have issued reports on ARM shares. Barclays raised their price target on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $107.00 to $190.00 in a research report on Friday, July 19th. William Blair started coverage on shares of ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Raymond James assumed coverage on shares of ARM in a report on Friday, September 13th. They set an “outperform” rating and a $160.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.95.

ARM Price Performance

The company has a market capitalization of $142.87 billion, a P/E ratio of 228.02, a P/E/G ratio of 6.39 and a beta of 5.40. The stock’s 50 day simple moving average is $143.11 and its two-hundred day simple moving average is $139.12.

ARM (NASDAQ:ARM) last announced its earnings results 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 company had revenue of $844.00 million during 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 company’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Arm Holdings plc will post 0.86 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Several institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its position in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after buying an additional 806,676 shares during the period. Sei Investments Co. grew its holdings in ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in ARM by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock valued at $36,366,000 after purchasing an additional 14,584 shares during the period. Finally, Mark Asset Management LP grew its holdings in ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after purchasing an additional 29,686 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.