On August 3, ARM Holdings fell 4.09% in regular trading, trading at $222.485/share, with turnover of $64.16 million.
On the news front, multiple sell-side institutions have recently issued significant price target cuts: Bank of America Global Research slashed its target from $460 to $260, RBC Capital Markets from $475 to $340, UBS from $360 to $320, and Wells Fargo from $350 to $280. Despite the company delivering a Q1 earnings beat with adjusted EPS of $0.45 versus the $0.40 consensus and revenue of $1.29 billion exceeding the $1.262 billion estimate, the concentrated analyst downgrades have continued to suppress upside potential.
The broader semiconductor sector also weighed on sentiment, with Micron Technology down 5.57%, SK hynix down 4.19%, Intel down 4.11%, AMD down 3.69%, and NVIDIA down 1.1%, forming a sector-wide drag on the stock.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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