ARM (NASDAQ:ARM) Shares Down 0.1% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s stock price traded down 0.1% during mid-day trading on Friday . The company traded as low as $131.90 and last traded at $133.05. 1,090,347 shares changed hands during trading, a decline of 90% from the average session volume of 10,649,838 shares. The stock had previously closed at $133.14.

Analysts Set New Price Targets

ARM has been the subject of a number of research reports. Susquehanna boosted their price objective on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Benchmark began coverage on ARM in a report on Monday, September 16th. They set a “hold” rating on the stock. JPMorgan Chase & Co. upped their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Finally, HSBC cut ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average price target of $149.86.

ARM Trading Up 2.1 %

The stock has a market capitalization of $142.47 billion, a PE ratio of 221.75, a PEG ratio of 6.64 and a beta of 5.40. The company’s 50 day simple moving average is $143.52 and its 200 day simple moving average is $140.20.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, analysts predict that Arm Holdings plc will post 0.79 EPS for the current year.

Hedge Funds Weigh In On ARM

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

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.