ARM (NASDAQ:ARM) Stock Price Down 2.2%

Arm Holdings plc (NASDAQ:ARM)’s share price dropped 2.2% during trading on Wednesday . The stock traded as low as 122.83 and last traded at 125.19. Approximately 5,665,638 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 16,504,783 shares. The stock had previously closed at 127.96.

Analyst Ratings Changes

ARM has been the subject of a number of recent research reports. New Street Research reissued a “neutral” rating and set a $110.00 price target on shares of ARM in a research report on Tuesday, February 27th. Barclays boosted their price target on shares of ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Mizuho upped their target price on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft cut shares of ARM from a “buy” rating to a “hold” rating and increased their price target for the stock from $60.00 to $70.00 in a research report on Monday, December 18th. Finally, Susquehanna increased their price target on shares of ARM from $48.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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 released its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share 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 firm’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts forecast that Arm Holdings plc will post 1.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC lifted its stake in shares of 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 acquired a new position in ARM during the 4th quarter worth approximately $480,194,000. FMR LLC acquired a new position in ARM during the 3rd quarter worth approximately $242,812,000. Wellington Management Group LLP lifted its position 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. acquired a new position in ARM during the 3rd quarter worth approximately $143,092,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.