ARM (NASDAQ:ARM) Stock Price Down 5.4% – Time to Sell?

Arm Holdings plc (NASDAQ:ARM)’s share price fell 5.4% during mid-day trading on Friday . The company traded as low as $128.45 and last traded at $128.95. 2,756,694 shares traded hands during trading, a decline of 74% from the average session volume of 10,782,024 shares. The stock had previously closed at $136.35.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. HSBC cut shares of ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Evercore ISI upped their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Susquehanna boosted their price objective on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Hsbc Global Res raised ARM to a “moderate sell” rating in a report on Monday, July 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

ARM Stock Performance

The company has a market cap of $134.89 billion, a price-to-earnings ratio of 214.55, a price-to-earnings-growth ratio of 6.75 and a beta of 5.40. The stock’s fifty day moving average is $143.60 and its two-hundred day moving average is $139.55.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. On average, equities research analysts expect that Arm Holdings plc will post 0.79 EPS for the current year.

Hedge Funds Weigh In On ARM

Several large investors have recently modified their holdings of ARM. ORG Partners LLC purchased a new stake in shares of ARM in the third quarter worth $29,000. Transcendent Capital Group LLC bought a new stake in ARM during the second quarter worth about $33,000. Gilliland Jeter Wealth Management LLC increased its position in shares of ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the last quarter. RiverPark Advisors LLC raised its holdings in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in ARM in the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors 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.