ARM (NASDAQ:ARM) Shares Down 0.3% – Time to Sell?

Arm Holdings plc (NASDAQ:ARM)’s stock price traded down 0.3% on Thursday . The stock traded as low as $144.23 and last traded at $146.94. 1,830,939 shares traded hands during trading, a decline of 58% from the average session volume of 4,326,881 shares. The stock had previously closed at $147.40.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TD Cowen lifted their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. William Blair initiated coverage on shares of ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Loop Capital increased their price objective on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Barclays lifted their target price on ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus target price of $150.64.

ARM Price Performance

The firm’s fifty day simple moving average is $137.34 and its 200 day simple moving average is $141.38. The company has a market capitalization of $155.83 billion, a PE ratio of 247.16, a price-to-earnings-growth ratio of 6.57 and a beta of 4.53.

ARM (NASDAQ:ARM) last issued 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 return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC lifted its stake in ARM by 14.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after buying an additional 77 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of ARM by 1.1% during the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after acquiring an additional 100 shares during the last quarter. Hobbs Group Advisors LLC lifted its position in shares of ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after acquiring an additional 100 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of ARM by 5.5% in the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after acquiring an additional 102 shares during the last quarter. Finally, Crescent Sterling Ltd. increased its position in shares of ARM by 6.5% during the fourth quarter. Crescent Sterling Ltd. now owns 1,879 shares of the company’s stock worth $232,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors 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.