Shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM – Get Free Report) were down 7.3% during trading on Thursday. The stock traded as low as $208.30 and last traded at $210.10. 5,715,850 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 7,537,028 shares. The stock had previously closed at $226.59.
Wall Street Analysts Forecast Growth
ARM has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating and set a $320.00 price target on shares of ARM in a research note on Monday, July 20th. Piper Sandler began coverage on shares of ARM in a research note on Wednesday, September 9th. They issued an “overweight” rating and a $320.00 price objective on the stock. Benchmark started coverage on shares of ARM in a report on Thursday, July 16th. They issued a “hold” rating for the company. Guggenheim reaffirmed a “buy” rating and issued a $255.00 target price on shares of ARM in a report on Thursday, July 30th. Finally, Royal Bank Of Canada decreased their target price on shares of ARM from $475.00 to $340.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.32.
Get Our Latest Stock Report on ARM
ARM Stock Up 0.1%
The stock has a fifty day moving average price of $261.86 and a 200-day moving average price of $271.80. The firm has a market cap of $224.65 billion, a price-to-earnings ratio of 216.84, a price-to-earnings-growth ratio of 6.23 and a beta of 3.78.
ARM (NASDAQ:ARM – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. ARM had a return on equity of 12.24% and a net margin of 20.25%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, research analysts expect that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current year.
Insider Activity at ARM
In other news, CFO Jason Child sold 10,400 shares of ARM stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $300.00, for a total value of $3,120,000.00. Following the sale, the chief financial officer owned 153,442 shares of the company’s stock, valued at $46,032,600. The trade was a 6.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Kings Path Partners LLC acquired a new stake in ARM in the third quarter valued at about $29,000. Syntax Research Inc. acquired a new position in ARM during the 1st quarter worth approximately $30,000. Evelyn Partners Investment Management Services Ltd acquired a new position in ARM during the 1st quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of ARM during the 1st quarter worth approximately $40,000. Finally, Sterling Capital Management LLC raised its stake in shares of ARM by 1,400.0% during the 1st quarter. Sterling Capital Management LLC now owns 375 shares of the company’s stock worth $57,000 after buying an additional 350 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.
ARM Company Profile
Arm Holdings plc (NASDAQ: ARM) is a semiconductor and software design company that develops central processing unit (CPU) architectures and related intellectual property. Rather than manufacturing chips itself, Arm licenses its designs and instruction-set architectures to semiconductor companies and technology manufacturers, which incorporate them into their own products.
The company’s offerings include CPU processor cores, graphics processing units through its Mali product family, system IP, development tools and software.
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