ARM (NASDAQ:ARM) Trading Down 1.5%

Arm Holdings plc (NASDAQ:ARM) was down 1.5% during mid-day trading on Monday . The stock traded as low as 123.50 and last traded at 124.39. Approximately 1,956,413 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 14,797,469 shares. The stock had previously closed at 126.33.

Wall Street Analyst Weigh In

Several analysts have issued reports on ARM shares. KeyCorp increased their target price on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. The Goldman Sachs Group increased their target price on shares of ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Mizuho increased their target price on shares of ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Rosenblatt Securities raised their price target on shares of ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, New Street Research reissued a “neutral” rating and issued a $110.00 price target on shares of ARM in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of 89.88.

ARM Stock Performance

The business’s 50-day moving average is 128.56 and its 200-day moving average is 85.83.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. ARM’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that Arm Holdings plc will post 0.36 earnings per share for the current year.

Institutional Trading of ARM

A number of institutional investors and hedge funds have recently bought and sold shares of ARM. Harbour Capital Advisors LLC grew its stake in shares of ARM by 10.0% in the first quarter. Harbour Capital Advisors LLC now owns 6,050 shares of the company’s stock worth $752,000 after acquiring an additional 550 shares during the period. Sovereign Financial Group Inc. bought a new stake in shares of ARM in the first quarter worth approximately $266,000. Sunbelt Securities Inc. bought a new stake in shares of ARM in the first quarter worth approximately $169,000. Kingswood Wealth Advisors LLC bought a new stake in shares of ARM in the first quarter worth approximately $440,000. Finally, TB Alternative Assets Ltd. bought a new stake in shares of ARM in the first quarter worth approximately $3,706,000. 7.53% of the stock is currently 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.