ARM (NASDAQ:ARM) Trading Down 0.8% – Here’s Why

by · The Markets Daily

Arm Holdings plc (NASDAQ:ARM – Get Free Report)’s stock price fell 0.8% during trading on Tuesday . The stock traded as low as $149.83 and last traded at $151.20. 1,306,158 shares were traded during trading, a decline of 88% from the average session volume of 11,181,641 shares. The stock had previously closed at $152.35.

Wall Street Analysts Forecast Growth

ARM has been the topic of several analyst reports. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Barclays boosted their price objective on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Guggenheim lifted their target price on ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Read Our Latest Analysis on ARM

ARM Price Performance

The stock has a market capitalization of $159.73 billion and a P/E ratio of 390.45. The business’s 50 day moving average price is $137.81 and its 200 day moving average price is $135.42.

ARM (NASDAQ:ARM – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. As a group, analysts forecast that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Sei Investments Co. raised its stake in ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares during the period. State of Michigan Retirement System purchased a new stake in ARM in the first quarter worth $28,523,000. Marsico Capital Management LLC purchased a new position in shares of ARM during the second quarter worth approximately $33,207,000. Zevenbergen Capital Investments LLC bought a new position in shares of ARM during the 1st quarter worth $23,704,000. Finally, ProShare Advisors LLC purchased a new position in ARM during the 2nd quarter valued at about $16,611,000. Institutional investors own 7.53% of the company’s stock.

About ARM

(Get Free Report)

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.

Read More