ARM (NASDAQ:ARM) Stock Price Down 0.2%

Arm Holdings plc (NASDAQ:ARM) was down 0.2% during mid-day trading on Tuesday . The company traded as low as 120.91 and last traded at 122.05. Approximately 1,884,956 shares changed hands during trading, a decline of 87% from the average daily volume of 14,663,163 shares. The stock had previously closed at 122.32.

Analyst Ratings Changes

A number of research analysts recently issued reports on ARM shares. The Goldman Sachs Group boosted their target price on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Evercore ISI initiated coverage on shares of ARM in a research report on Tuesday. They set an “outperform” rating and a $156.00 target price for the company. Susquehanna reiterated a “neutral” rating and issued a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. New Street Research reiterated a “neutral” rating and issued a $110.00 price objective on shares of ARM in a research report on Tuesday, February 27th. Finally, Daiwa Capital Markets downgraded shares of ARM from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ARM has an average rating of “Moderate Buy” and a consensus target price of 89.88.

ARM Stock Performance

The firm’s 50 day moving average is 129.18 and its 200-day moving average is 85.98.

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

Institutional Investors Weigh In On ARM

A number of hedge funds have recently added to or reduced their stakes in ARM. Griffin Asset Management Inc. acquired a new stake in shares of ARM in the 1st quarter valued at $246,000. Harbour Capital Advisors LLC grew its position in ARM by 10.0% during the 1st quarter. Harbour Capital Advisors LLC now owns 6,050 shares of the company’s stock worth $752,000 after purchasing an additional 550 shares during the last quarter. Sovereign Financial Group Inc. purchased a new position in ARM during the 1st quarter worth $266,000. Sunbelt Securities Inc. purchased a new position in ARM during the 1st quarter worth $169,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in ARM during the 1st quarter worth $440,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.