ARM (NASDAQ:ARM) Stock Price Down 7.9%

Shares of Arm Holdings plc (NASDAQ:ARM) were down 7.9% during mid-day trading on Wednesday . The company traded as low as 112.38 and last traded at 112.52. Approximately 6,718,201 shares changed hands during trading, a decline of 54% from the average daily volume of 14,568,618 shares. The stock had previously closed at 122.22.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Rosenblatt Securities raised their price target on ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Barclays boosted their price objective on shares of ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Daiwa Capital Markets cut ARM from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. Mizuho increased their price target on shares of ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, Susquehanna reaffirmed a “neutral” rating and set a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, ARM has a consensus rating of “Moderate Buy” and a consensus target price of 89.88.

ARM Price Performance

The firm’s fifty day moving average is 128.56 and its 200-day moving average is 85.83.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that Arm Holdings plc will post 0.36 earnings per share for the current year.

Institutional Trading of ARM

A number of large investors have recently modified their holdings of ARM. Jennison Associates LLC raised its position in ARM by 15.7% in the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock valued at $552,065,000 after purchasing an additional 994,551 shares in the last quarter. Schroder Investment Management Group purchased a new position in ARM in the fourth quarter worth approximately $480,194,000. FMR LLC purchased a new position in ARM in the third quarter worth approximately $242,812,000. Wellington Management Group LLP grew its holdings in ARM by 56.4% during the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after acquiring an additional 1,611,926 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of ARM in the 3rd quarter valued at approximately $143,092,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.