ARM (NASDAQ:ARM) Shares Down 5.5%

Arm Holdings plc (NASDAQ:ARM)’s share price fell 5.5% during mid-day trading on Friday . The company traded as low as 97.80 and last traded at 99.18. 5,960,016 shares were traded during trading, a decline of 59% from the average session volume of 14,583,444 shares. The stock had previously closed at 104.92.

Analysts Set New Price Targets

Several equities analysts have recently commented on ARM shares. Daiwa Capital Markets cut shares of ARM from a “buy” rating to a “neutral” rating and boosted their target price for the company from $63.00 to $130.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. boosted their price objective on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. BNP Paribas downgraded ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a report on Friday. KeyCorp boosted their price target on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Rosenblatt Securities raised their price objective on ARM from $140.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of 90.28.

ARM Stock Performance

The firm has a 50-day moving average of 128.44 and a 200 day moving average of 86.60.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million for the quarter, compared to the consensus estimate of 762.50 million. The company’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast that Arm Holdings plc will post 0.36 earnings per share for the current year.

Institutional Trading of ARM

Hedge funds have recently made changes to their positions in the business. Jennison Associates LLC lifted its position in ARM by 15.7% in the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after buying an additional 994,551 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of ARM in the 4th quarter worth about $480,194,000. FMR LLC purchased a new position in shares of ARM during the 3rd quarter worth about $242,812,000. Wellington Management Group LLP grew its holdings in ARM by 56.4% during the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after purchasing an additional 1,611,926 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in ARM in the third quarter worth about $143,092,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.