ARM (NASDAQ:ARM) Shares Down 1.4%

Shares of Arm Holdings plc (NASDAQ:ARM) dropped 1.4% during mid-day trading on Thursday . The company traded as low as 102.58 and last traded at 106.07. Approximately 5,905,339 shares traded hands during trading, a decline of 60% from the average daily volume of 14,639,326 shares. The stock had previously closed at 107.56.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ARM shares. Mizuho raised their price objective on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. raised their target price on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Barclays raised their price objective on shares of ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Rosenblatt Securities raised their price objective on shares of ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, The Goldman Sachs Group raised their price objective on shares of ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. 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. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus target price of 89.88.

ARM Stock Performance

The business’s 50 day simple moving average is 129.18 and its two-hundred day simple moving average is 85.98.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The company had revenue of 824.00 million for the quarter, compared to the consensus estimate of 762.50 million. The firm’s revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts expect that Arm Holdings plc will post 0.36 EPS for the current year.

Institutional Trading of ARM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hoey Investments Inc. bought a new stake in shares of ARM in the third quarter worth $27,000. Armstrong Advisory Group Inc. bought a new stake in shares of ARM in the third quarter worth $27,000. Centerpoint Advisors LLC bought a new stake in shares of ARM in the third quarter worth $32,000. Ancora Advisors LLC bought a new stake in shares of ARM in the third quarter worth $32,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of ARM in the first quarter worth $35,000. 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.