Arm Holdings PLC (NASDAQ:ARMH) shares dropped 1.8% on Wednesday . The stock traded as low as $43.32 and last traded at $43.66, with a volume of 1,955,706 shares trading hands. The stock had previously closed at $44.48.

ARMH has been the subject of several analyst reports. Zacks Investment Research downgraded Arm Holdings PLC from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. Pacific Crest restated an “overweight” rating on shares of Arm Holdings PLC in a report on Tuesday, March 15th. Beaufort Securities restated a “buy” rating on shares of Arm Holdings PLC in a report on Saturday, April 23rd. Jefferies Group downgraded Arm Holdings PLC from a “buy” rating to a “hold” rating in a report on Monday, April 18th. Finally, Barclays PLC restated an “overweight” rating on shares of Arm Holdings PLC in a report on Saturday, April 23rd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Arm Holdings PLC presently has a consensus rating of “Hold” and an average price target of $50.38.

The company has a 50-day moving average price of $42.92 and a 200-day moving average price of $42.31. The stock has a market capitalization of $20.46 billion and a PE ratio of 44.33.

Arm Holdings PLC (NASDAQ:ARMH) last posted its earnings results on Wednesday, April 20th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. During the same quarter in the prior year, the business earned $0.07 earnings per share. The business had revenue of $398 million for the quarter, compared to analyst estimates of $397.51 million. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. On average, equities research analysts forecast that Arm Holdings PLC will post $34.60 earnings per share for the current fiscal year.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in ARMH. WCM Investment Management CA raised its position in Arm Holdings PLC by 8.4% in the fourth quarter. WCM Investment Management CA now owns 7,090,386 shares of the company’s stock valued at $320,769,000 after buying an additional 551,451 shares during the last quarter. Morgan Stanley raised its position in Arm Holdings PLC by 124.9% in the fourth quarter. Morgan Stanley now owns 416,810 shares of the company’s stock valued at $18,857,000 after buying an additional 231,498 shares during the last quarter. Telemark Asset Management LLC raised its position in Arm Holdings PLC by 12.5% in the fourth quarter. Telemark Asset Management LLC now owns 450,000 shares of the company’s stock valued at $20,358,000 after buying an additional 50,000 shares during the last quarter. Sawtooth Asset Management Inc. raised its position in Arm Holdings PLC by 6,053.8% in the fourth quarter. Sawtooth Asset Management Inc. now owns 35,200 shares of the company’s stock valued at $1,592,000 after buying an additional 34,628 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Arm Holdings PLC by 0.3% in the fourth quarter. Bank of Montreal Can now owns 6,972,047 shares of the company’s stock valued at $315,416,000 after buying an additional 22,229 shares during the last quarter.

ARM Holdings plc (ARM) is a United Kingdom-based company engaged in designing of microprocessors, physical intellectual property (IP) and related technology and software, and sale of development tools. The Company’s offers products, such as 16/32/64-bit RISC microprocessors, data engines, graphics processors, digital libraries, embedded memories, peripherals, software and development tools, as well as analog functions and high-speed connectivity products.

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