ARM (NASDAQ:ARM) Stock Price Down 1.3% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s share price fell 1.3% during mid-day trading on Tuesday . The company traded as low as $139.93 and last traded at $140.06. 1,342,433 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 10,862,437 shares. The stock had previously closed at $141.96.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARM. Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a research note on Thursday, October 31st. Evercore ISI increased their price objective on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Citigroup increased their price objective on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. HSBC lowered shares of ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Finally, TD Cowen increased 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.95.

ARM Price Performance

The stock has a market capitalization of $142.87 billion, a P/E ratio of 228.02, a PEG ratio of 6.39 and a beta of 5.40. The stock’s fifty day moving average is $143.11 and its two-hundred day moving average is $139.12.

ARM (NASDAQ:ARM) last issued 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 business had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. Analysts expect that Arm Holdings plc will post 0.86 EPS for the current year.

Institutional Investors Weigh In On ARM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARM. KP Management LLC raised its holdings in shares of ARM by 28.6% during the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares in the last quarter. Willner & Heller LLC grew its stake in ARM by 193.7% in the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after buying an additional 4,484 shares during the last quarter. Lazard Asset Management LLC grew its stake in ARM by 393.0% in the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the last quarter. United Advisor Group LLC acquired a new position in ARM in the 3rd quarter valued at $545,000. Finally, Mizuho Securities Co. Ltd. grew its stake in ARM by 156.3% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after buying an additional 11,220 shares during the last quarter. Hedge funds and other institutional investors 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.