ARM (NASDAQ:ARM) Trading Down 2.7%

Arm Holdings plc (NASDAQ:ARMGet Free Report)’s share price dropped 2.7% during mid-day trading on Wednesday . The stock traded as low as 112.52 and last traded at 113.51. Approximately 4,536,876 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 13,953,748 shares. The stock had previously closed at 116.65.

Wall Street Analyst Weigh In

ARM has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. The Goldman Sachs Group raised their target price on ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of ARM in a report on Monday, May 6th. Barclays increased their price objective on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, BNP Paribas cut ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of 91.64.

Check Out Our Latest Report on ARM

ARM Trading Down 2.6 %

The firm has a fifty day moving average price of 118.24 and a two-hundred day moving average price of 93.00.

ARM (NASDAQ:ARMGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06. The business had revenue of 928.00 million during the quarter, compared to analyst estimates of 865.94 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. ARM’s revenue was up 46.6% compared to the same quarter last year. During the same period last year, the business earned $0.02 EPS. On average, sell-side analysts anticipate that Arm Holdings plc will post 0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jennison Associates LLC increased its holdings in ARM by 15.7% in the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after buying an additional 994,551 shares in the last quarter. Schroder Investment Management Group bought a new stake in shares of ARM in the fourth quarter worth approximately $480,194,000. FMR LLC purchased a new position in shares of ARM during the third quarter valued at approximately $242,812,000. Wellington Management Group LLP lifted its position in ARM by 56.4% during the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after purchasing an additional 1,611,926 shares during the period. Finally, Invesco Ltd. bought a new position in ARM during the third quarter valued at approximately $143,092,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

About ARM

(Get Free Report)

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.

Further Reading

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