ARM (NASDAQ:ARM) Trading Down 1% – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s share price was down 1% on Wednesday . The stock traded as low as $130.48 and last traded at $131.73. Approximately 847,346 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 10,707,686 shares. The stock had previously closed at $133.06.

Analysts Set New Price Targets

A number of brokerages have issued reports on ARM. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped 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. Loop Capital raised their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen boosted their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $149.86.

ARM Trading Down 0.6 %

The company has a market cap of $139.20 billion, a price-to-earnings ratio of 221.42, a price-to-earnings-growth ratio of 6.64 and a beta of 5.40. The company has a fifty day moving average price of $143.52 and a two-hundred day moving average price of $140.20.

ARM (NASDAQ:ARM) last posted its quarterly 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 firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. KP Management LLC grew its stake in shares of ARM by 28.6% in the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares during the period. Willner & Heller LLC grew its position in ARM by 193.7% in the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after acquiring an additional 4,484 shares during the period. Lazard Asset Management LLC raised its stake in ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after acquiring an additional 20,117 shares in the last quarter. United Advisor Group LLC bought a new position in shares of ARM during the third quarter valued at $545,000. Finally, Mizuho Securities Co. Ltd. boosted its stake in shares of ARM by 156.3% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after purchasing an additional 11,220 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.