ARM (NASDAQ:ARM) Shares Down 0.2%

Arm Holdings plc (NASDAQ:ARM) shares fell 0.2% during mid-day trading on Tuesday . The company traded as low as 120.91 and last traded at 122.05. 1,884,956 shares were traded during trading, a decline of 87% from the average session volume of 14,663,163 shares. The stock had previously closed at 122.32.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARM. TD Cowen lifted their price target on ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Susquehanna reissued a “neutral” rating and set a $85.00 target price on shares of ARM in a research note on Thursday, April 4th. Evercore ISI began coverage on ARM in a research report on Tuesday. They set an “outperform” rating and a $156.00 price target on the stock. The Goldman Sachs Group lifted their price target on ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Barclays boosted their target price on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of 89.88.

ARM Price Performance

The firm has a fifty day moving average of 127.58 and a 200-day moving average of 85.34.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The business had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. ARM’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities analysts anticipate that Arm Holdings plc will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SOA Wealth Advisors LLC. acquired a new position in shares of ARM during the first quarter valued at approximately $35,000. PNC Financial Services Group Inc. increased its stake in shares of ARM by 47.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock valued at $115,000 after acquiring an additional 494 shares during the period. Armstrong Advisory Group Inc. acquired a new position in shares of ARM during the third quarter valued at approximately $27,000. Hoey Investments Inc. acquired a new position in shares of ARM during the third quarter valued at approximately $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in ARM by 49.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock worth $117,000 after buying an additional 514 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

About ARM

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.