ARM (NASDAQ:ARM) Stock Price Down 5.8% - Here's What Happened

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s share price traded down 5.8% during trading on Thursday . The company traded as low as $129.05 and last traded at $127.66. 3,873,344 shares traded hands during trading, a decline of 44% from the average session volume of 6,905,373 shares. The stock had previously closed at $135.54.

Wall Street Analysts Forecast Growth

ARM has been the subject of several analyst reports. Evercore ISI boosted their target price on ARM from $176.00 to $202.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. The Goldman Sachs Group lifted their price target on shares of ARM from $159.00 to $174.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Needham & Company LLC reissued a "hold" rating on shares of ARM in a report on Thursday, May 8th. Barclays lowered their price objective on shares of ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Bank of America reduced their target price on ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $152.76.

ARM Stock Performance

The firm has a fifty day moving average price of $113.79 and a 200 day moving average price of $130.56. The company has a market cap of $132.09 billion, a price-to-earnings ratio of 165.87, a P/E/G ratio of 6.33 and a beta of 4.39.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. The company's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. On average, analysts expect that Arm Holdings plc will post 0.9 EPS for the current fiscal year.

Institutional Trading of ARM

A number of hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group acquired a new position in shares of ARM in the first quarter valued at approximately $28,000. GeoWealth Management LLC boosted its stake in ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after buying an additional 92 shares in the last quarter. TFC Financial Management Inc. grew its position in ARM by 163.4% in the first quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after acquiring an additional 165 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in ARM during the first quarter worth about $34,000. Finally, Colonial Trust Co SC bought a new position in shares of ARM in the fourth quarter worth about $40,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.