ARM (NASDAQ:ARM) Shares Down 2.2%

Arm Holdings plc (NASDAQ:ARM)’s stock price fell 2.2% during trading on Thursday . The company traded as low as 95.50 and last traded at 97.70. 2,567,251 shares traded hands during trading, a decline of 83% from the average session volume of 14,676,792 shares. The stock had previously closed at 99.88.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ARM. JPMorgan Chase & Co. raised their price objective on shares of ARM from $70.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Daiwa Capital Markets downgraded shares of ARM from a “buy” rating to a “neutral” rating and raised their target price for the company from $63.00 to $130.00 in a research report on Friday, February 16th. New Street Research reaffirmed a “neutral” rating and issued a $110.00 target price on shares of ARM in a research report on Tuesday, February 27th. The Goldman Sachs Group raised their target price on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $85.00 target price on shares of ARM in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of 90.28.

ARM Stock Down 2.0 %

The firm’s 50-day moving average price is 126.31 and its 200 day moving average price is 87.50.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The business’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts predict that Arm Holdings plc will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Gainplan LLC bought a new stake in shares of ARM during the 1st quarter valued at approximately $250,000. Schnieders Capital Management LLC bought a new stake in shares of ARM during the 1st quarter valued at approximately $238,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of ARM by 152.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 56,171 shares of the company’s stock valued at $7,021,000 after purchasing an additional 33,961 shares during the last quarter. Elite Wealth Management Inc. bought a new stake in shares of ARM during the 1st quarter valued at approximately $2,733,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of ARM during the 1st quarter valued at approximately $459,000. 7.53% of the stock is owned by institutional investors.

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.