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ARM (NASDAQ:ARM) Shares Gap Down Following Analyst Downgrade

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ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Get Free Report) gapped down before the market opened on Thursday after UBS Group lowered their price target on the stock from $185.00 to $175.00. The stock had previously closed at $163.33, but opened at $148.35. UBS Group currently has a buy rating on the stock. ARM shares last traded at $145.72, with a volume of 6,913,464 shares.

Several other brokerages have also recently commented on ARM. The Goldman Sachs Group began coverage on ARM in a research note on Thursday, July 10th. They issued a "neutral" rating and a $160.00 price target for the company. Barclays reduced their target price on ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Rosenblatt Securities restated a "buy" rating and issued a $180.00 target price on shares of ARM in a report on Thursday. BNP Paribas upgraded ARM from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $110.00 to $210.00 in a report on Wednesday, July 16th. Finally, Morgan Stanley boosted their target price on ARM from $150.00 to $194.00 and gave the stock an "overweight" rating in a report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $165.13.

Get Our Latest Stock Report on ARM

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently made changes to their positions in ARM. Sowell Financial Services LLC bought a new position in ARM in the 1st quarter worth about $229,000. Envestnet Asset Management Inc. boosted its holdings in shares of ARM by 0.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after purchasing an additional 353 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ARM by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after purchasing an additional 848 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of ARM by 15.7% in the 1st quarter. Spire Wealth Management now owns 1,174 shares of the company's stock worth $125,000 after purchasing an additional 159 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of ARM by 19.2% in the 1st quarter. Cerity Partners LLC now owns 14,671 shares of the company's stock worth $1,567,000 after purchasing an additional 2,358 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Trading Down 13.1%

The business has a fifty day moving average price of $146.56 and a 200-day moving average price of $134.48. The stock has a market capitalization of $149.94 billion, a PE ratio of 189.48, a PEG ratio of 9.36 and a beta of 4.19.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. ARM had a return on equity of 17.97% and a net margin of 19.76%. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the firm earned $0.40 EPS. The business's quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts anticipate that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

ARM Company Profile

(Get Free Report)

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.

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