ARM (NASDAQ:ARM) Stock Price Down 3.3% – Here’s Why

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM)’s stock price traded down 3.3% during trading on Friday . The stock traded as low as $163.61 and last traded at $165.61. 4,307,272 shares changed hands during trading, a decline of 20% from the average session volume of 5,397,188 shares. The stock had previously closed at $171.19.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 target price on shares of ARM in a research note on Thursday, July 31st. Guggenheim upped their target price on shares of ARM from $147.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, June 30th. KeyCorp reiterated an “overweight” rating and set a $190.00 target price (up from $175.00) on shares of ARM in a research note on Thursday, July 31st. BNP Paribas upgraded shares of ARM from a “neutral” rating to an “outperform” rating and upped their target price for the company from $110.00 to $210.00 in a research note on Wednesday, July 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ARM in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $167.43.

ARM Stock Performance

The company has a market cap of $174.97 billion, a price-to-earnings ratio of 250.92, a PEG ratio of 10.80 and a beta of 4.10. The business’s 50 day moving average price is $146.98 and its 200-day moving average price is $137.30.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. ARM had a net margin of 16.96% and a return on equity of 15.56%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The business’s revenue was up 12.1% on a year-over-year basis. On average, equities research analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Several large investors have recently made changes to their positions in ARM. Ritholtz Wealth Management grew its holdings in shares of ARM by 24.8% in the 1st quarter. Ritholtz Wealth Management now owns 2,377 shares of the company’s stock worth $254,000 after purchasing an additional 473 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of ARM by 17.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 31,577 shares of the company’s stock worth $3,372,000 after purchasing an additional 4,742 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of ARM in the 1st quarter worth about $229,000. QRG Capital Management Inc. grew its holdings in shares of ARM by 125.1% in the 1st quarter. QRG Capital Management Inc. now owns 8,989 shares of the company’s stock worth $960,000 after purchasing an additional 4,995 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of ARM by 91.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,067 shares of the company’s stock worth $434,000 after purchasing an additional 1,940 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.