ARM (NASDAQ:ARM) Stock Price Down 7.3% – Time to Sell?

Arm Holdings plc (NASDAQ:ARM) traded down 7.3% on Thursday . The stock traded as low as $142.20 and last traded at $143.17. 2,816,519 shares were traded during mid-day trading, a decline of 74% from the average session volume of 10,996,428 shares. The stock had previously closed at $154.40.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Citigroup upped their price objective on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Loop Capital lifted their target price on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. TD Cowen upgraded shares of ARM to a “strong-buy” rating in a report on Monday, September 16th. Finally, Evercore ISI upped their target price on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

ARM Price Performance

The stock’s 50-day moving average is $140.91 and its 200 day moving average is $136.58. The company has a market cap of $148.25 billion and a PE ratio of 362.78.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s revenue was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, analysts expect that Arm Holdings plc will post 0.86 EPS for the current year.

Institutional Trading of ARM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARM. International Assets Investment Management LLC grew its position in ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the period. Sei Investments Co. lifted its holdings in ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ARM by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock valued at $36,366,000 after buying an additional 14,584 shares in the last quarter. Finally, Mark Asset Management LP boosted its holdings in ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after buying an additional 29,686 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.