ARM (NASDAQ:ARM) Stock Price Down 0.5%

Arm Holdings plc (NASDAQ:ARM) shares dropped 0.5% during mid-day trading on Friday . The stock traded as low as 124.16 and last traded at 124.99. Approximately 7,407,100 shares changed hands during trading, a decline of 55% from the average daily volume of 16,454,311 shares. The stock had previously closed at 125.62.

Wall Street Analyst Weigh In

ARM has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Rosenblatt Securities upped their price target on ARM from $140.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, February 26th. New Street Research reaffirmed a “neutral” rating and set a $110.00 price target on shares of ARM in a research note on Tuesday, February 27th. Susquehanna upped their price target on ARM from $48.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, TD Cowen upped their price target on ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, ARM presently has a consensus rating of “Hold” and a consensus target price of 85.78.

ARM Stock Down 0.5 %

The firm has a fifty day simple moving average of 115.06 and a 200-day simple moving average of 79.57.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts predict that Arm Holdings plc will post 1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hoey Investments Inc. acquired a new position in ARM during the third quarter valued at approximately $27,000. Armstrong Advisory Group Inc. acquired a new position in ARM during the third quarter valued at approximately $27,000. Centerpoint Advisors LLC acquired a new position in ARM during the third quarter valued at approximately $32,000. Ancora Advisors LLC acquired a new position in ARM during the third quarter valued at approximately $32,000. Finally, Bamco Inc. NY acquired a new position in ARM during the third quarter valued at approximately $37,000. 7.53% of the stock is currently owned by institutional investors.

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.