ARM (NASDAQ:ARM) Stock Price Down 0.9%

Arm Holdings plc (NASDAQ:ARM)’s share price was down 0.9% during trading on Thursday . The stock traded as low as 160.79 and last traded at 163.30. Approximately 3,143,270 shares were traded during trading, a decline of 76% from the average daily volume of 13,362,221 shares. The stock had previously closed at 164.72.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ARM shares. Susquehanna reaffirmed a “neutral” rating and issued a $85.00 target price on shares of ARM in a report on Thursday, April 4th. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of ARM in a research note on Monday, May 6th. KeyCorp lifted their target price on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Wells Fargo & Company increased their price target on shares of ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, ARM currently has a consensus rating of “Hold” and an average price target of 103.68.

ARM Trading Down 2.0 %

The firm has a 50-day simple moving average of 124.78 and a 200-day simple moving average of 110.28.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, topping the consensus estimate of 0.30 by 0.06. The firm had revenue of 928.00 million for the quarter, compared to analysts’ expectations of 865.94 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business’s quarterly revenue was up 46.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. As a group, sell-side analysts forecast that Arm Holdings plc will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ARM. Mark Sheptoff Financial Planning LLC bought a new position in ARM in the first quarter valued at $25,000. Ancora Advisors LLC bought a new position in ARM in the third quarter valued at $32,000. SOA Wealth Advisors LLC. bought a new position in ARM in the first quarter valued at $35,000. Bamco Inc. NY bought a new position in ARM in the third quarter valued at $37,000. Finally, Naples Money Management LLC increased its stake in ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after acquiring an additional 110 shares during the last quarter. 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.