ARM (NASDAQ:ARM) Shares Down 2.9% - Here's What Happened

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s stock price was down 2.9% on Monday . The stock traded as low as $134.63 and last traded at $136.44. Approximately 1,347,520 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 4,483,350 shares. The stock had previously closed at $140.49.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of ARM from $173.00 to $176.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. William Blair initiated coverage on shares of ARM in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. Loop Capital boosted their target price on ARM from $130.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Susquehanna increased their price target on ARM from $115.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, TD Cowen boosted their price objective on ARM from $150.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $150.64.

ARM Stock Down 2.4 %

The firm has a market cap of $143.63 billion, a PE ratio of 228.45, a PEG ratio of 7.15 and a beta of 4.53. The company has a 50-day simple moving average of $137.35 and a two-hundred day simple moving average of $141.54.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, equities analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Modus Advisors LLC raised its holdings in ARM by 300.2% during the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company's stock valued at $2,212,000 after acquiring an additional 13,453 shares during the period. KP Management LLC grew its position in shares of ARM by 28.6% in the third quarter. KP Management LLC now owns 45,000 shares of the company's stock valued at $6,435,000 after purchasing an additional 10,000 shares in the last quarter. XTX Topco Ltd raised its stake in shares of ARM by 150.1% during the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company's stock valued at $928,000 after purchasing an additional 3,893 shares during the period. Willner & Heller LLC lifted its holdings in ARM by 193.7% during the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company's stock worth $972,000 after purchasing an additional 4,484 shares in the last quarter. Finally, Avalon Global Asset Management LLC bought a new position in ARM in the 3rd quarter worth about $8,581,000. Hedge funds and other institutional investors own 7.53% of the company's stock.

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.