ARM (NASDAQ:ARM) Stock Price Down 3.5% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s share price traded down 3.5% during mid-day trading on Thursday . The company traded as low as $158.70 and last traded at $167.16. 7,349,913 shares changed hands during trading, an increase of 4% from the average session volume of 7,050,847 shares. The stock had previously closed at $173.26.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Citigroup upped their target price on shares of ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group upped their target price on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday. Loop Capital increased their price target 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. Mizuho increased their price target on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price target on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $162.17.

ARM Trading Down 3.2 %

The business’s 50-day moving average is $143.45 and its two-hundred day moving average is $139.80. The firm has a market cap of $175.80 billion, a P/E ratio of 279.34, a P/E/G ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 EPS 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 business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Arm Holdings plc will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Large investors have recently made changes to their positions in the company. Kapstone Financial Advisors LLC acquired a new position in ARM in the 4th quarter valued at approximately $215,000. Charles Schwab Investment Management Inc. increased its stake in ARM by 41.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,191 shares of the company’s stock valued at $3,231,000 after buying an additional 7,734 shares during the period. Steward Partners Investment Advisory LLC increased its stake in ARM by 8.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 11,255 shares of the company’s stock valued at $1,388,000 after buying an additional 839 shares during the period. DJE Kapital AG acquired a new position in ARM in the 4th quarter valued at approximately $502,000. Finally, SBI Securities Co. Ltd. acquired a new position in ARM in the 4th quarter valued at approximately $16,933,000. Institutional investors and hedge funds 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.