ARM (NASDAQ:ARM) Stock Price Down 2%

Arm Holdings plc (NASDAQ:ARM - Get Free Report) shares dropped 2% on Friday . The stock traded as low as 110.70 and last traded at 112.00. Approximately 3,144,205 shares changed hands during trading, a decline of 77% from the average daily volume of 13,816,971 shares. The stock had previously closed at 114.27.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. New Street Research reaffirmed a "neutral" rating and set a $110.00 price target on shares of ARM in a research report on Tuesday, February 27th. Mizuho raised their target price on ARM from $100.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, March 7th. Barclays boosted their price target on ARM from $65.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. TD Cowen raised their price objective on shares of ARM from $80.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, February 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of ARM from $95.00 to $108.00 and gave the company a "buy" rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of 93.48.

ARM Price Performance

The company's 50 day simple moving average is 117.24 and its 200 day simple moving average is 93.29.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, beating analysts' consensus estimates of 0.30 by 0.06. ARM had a return on equity of 16.94% and a net margin of 9.46%. The company had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. During the same period last year, the business posted $0.02 earnings per share. ARM's revenue was up 46.6% on a year-over-year basis. As a group, equities research analysts forecast that Arm Holdings plc will post 0.93 earnings per share for the current year.

Institutional Trading of ARM

Several hedge funds have recently made changes to their positions in the company. BOKF NA boosted its stake in ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company's stock worth $51,000 after purchasing an additional 100 shares during the period. Comerica Bank increased its holdings in shares of ARM by 6.1% in the first quarter. Comerica Bank now owns 1,780 shares of the company's stock worth $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC raised 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 in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC grew its position in ARM by 2.9% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company's stock worth $645,000 after buying an additional 145 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd increased its stake in ARM by 14.8% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 1,550 shares of the company's stock worth $195,000 after acquiring an additional 200 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Company Profile

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.