ARM (NASDAQ:ARM) Shares Down 0.2% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s stock price dropped 0.2% during trading on Friday . The stock traded as low as $165.33 and last traded at $166.29. Approximately 2,248,875 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 6,857,441 shares. The stock had previously closed at $166.56.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARM. TD Cowen upped their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI upped their target price on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Susquehanna increased their price objective on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday. UBS Group began coverage on shares of ARM in a report on Monday, November 25th. They set a “buy” rating and a $160.00 price objective for the company. Finally, Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.09.

ARM Price Performance

The company has a market capitalization of $172.33 billion, a PE ratio of 274.67, a price-to-earnings-growth ratio of 8.41 and a beta of 4.53. The company’s fifty day moving average is $139.32 and its 200-day moving average is $141.18.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. Equities research analysts forecast that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Several institutional investors have recently bought and sold shares of ARM. Envestnet Asset Management Inc. boosted its stake in ARM by 20.0% in the second quarter. Envestnet Asset Management Inc. now owns 37,902 shares of the company’s stock valued at $6,202,000 after acquiring an additional 6,311 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of ARM by 674.8% during the second quarter. Pacer Advisors Inc. now owns 6,493 shares of the company’s stock worth $1,062,000 after buying an additional 5,655 shares during the period. Ensign Peak Advisors Inc acquired a new stake in shares of ARM during the second quarter worth $4,729,000. Bank of Montreal Can acquired a new stake in shares of ARM during the second quarter worth $5,684,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of ARM during the second quarter worth $573,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.