ARM (NASDAQ:ARM) Stock Price Down 0.2%

Arm Holdings plc (NASDAQ:ARM) 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 traded hands during trading, a decline of 87% from the average session volume of 14,663,163 shares. The stock had previously closed at 122.32.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARM. TD Cowen lifted their price target on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. The Goldman Sachs Group boosted their target price on ARM from $95.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Susquehanna restated a “neutral” rating and issued a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. JPMorgan Chase & Co. boosted their price target on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, Rosenblatt Securities boosted their price target on ARM from $140.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, February 26th. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of 89.88.

ARM Price Performance

The company’s 50-day moving average is 127.58 and its 200-day moving average is 85.34.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping 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. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts expect that Arm Holdings plc will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Harbour Capital Advisors LLC boosted its stake in ARM by 10.0% in the first quarter. Harbour Capital Advisors LLC now owns 6,050 shares of the company’s stock valued at $752,000 after acquiring an additional 550 shares during the last quarter. Sovereign Financial Group Inc. acquired a new stake in ARM in the first quarter worth $266,000. Sunbelt Securities Inc. acquired a new stake in shares of ARM during the first quarter worth $169,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of ARM during the first quarter worth $440,000. Finally, TB Alternative Assets Ltd. acquired a new stake in shares of ARM during the first quarter worth $3,706,000. 7.53% of the stock is owned by 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.