ARM (NASDAQ:ARM) Stock Price Down 0.5%

Arm Holdings plc (NASDAQ:ARM)’s share price traded down 0.5% during trading on Friday . The stock traded as low as 124.16 and last traded at 124.99. 7,407,100 shares changed hands during trading, a decline of 55% from the average session volume of 16,454,311 shares. The stock had previously closed at 125.62.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Daiwa Capital Markets lowered ARM from a “buy” rating to a “neutral” rating and upped their target price for the company from $63.00 to $130.00 in a research report on Friday, February 16th. TD Cowen upped their target price on ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. KeyCorp upped their price target on ARM from $75.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. New Street Research reaffirmed a “neutral” rating and set a $110.00 price target on shares of ARM in a research note on Tuesday, February 27th. Finally, Barclays upped their price target on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, ARM currently has an average rating of “Hold” and a consensus price target of 85.78.

ARM Trading Down 0.5 %

The stock has a 50-day moving average of 115.06 and a 200 day moving average of 79.57.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating the consensus estimate 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. ARM’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, research analysts anticipate that Arm Holdings plc will post 1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in 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 purchasing an additional 494 shares during the period. Hoey Investments Inc. bought a new position in shares of ARM in the third quarter worth $27,000. Armstrong Advisory Group Inc. bought a new position in shares of ARM in the third quarter worth $27,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of 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 acquiring an additional 514 shares during the period. Finally, Centerpoint Advisors LLC bought a new position in shares of ARM in the third quarter worth $32,000. 7.53% of the stock is owned by institutional investors.

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.