ARM (NASDAQ:ARM) Shares Down 1.8%

Arm Holdings plc (NASDAQ:ARM) shares fell 1.8% during trading on Friday . The stock traded as low as 151.37 and last traded at 157.93. 5,948,313 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 13,391,425 shares. The stock had previously closed at 160.77.

Analysts Set New Price Targets

Several brokerages have recently commented on ARM. KeyCorp lifted their target price on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Susquehanna restated a “neutral” rating and set a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. Sanford C. Bernstein boosted their price objective on ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a research report on Thursday, May 16th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, May 9th. Finally, Bank of America boosted their price objective on ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of 99.48.

ARM Stock Performance

The firm has a 50 day moving average price of 121.05 and a two-hundred day moving average price of 107.89.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, topping the consensus estimate of 0.30 by 0.06. The business had revenue of 928.00 million during the quarter, compared to analyst estimates of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. The company’s revenue was up 46.6% compared to the same quarter last year. During the same period last year, the company posted $0.02 EPS. On average, research analysts anticipate that Arm Holdings plc will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Several large investors have recently modified their holdings of ARM. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of ARM in the first quarter worth $25,000. Ancora Advisors LLC acquired a new stake in shares of ARM in the third quarter worth $32,000. SOA Wealth Advisors LLC. acquired a new stake in shares of ARM in the first quarter worth $35,000. Bamco Inc. NY acquired a new stake in shares of ARM in the third quarter worth $37,000. Finally, Naples Money Management LLC boosted its position in shares of ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after buying an additional 110 shares during the period. 7.53% of the stock is 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.