On August 3, ARM Holdings fell 3.42% in pre-market trading, trading at $232.26 per share, with turnover of approximately $5.07 million.
The semiconductor sector is under broad pressure, with Micron Technology down 4.07%, Intel down 2.28%, Advanced Micro Devices down 2.27%, NVIDIA down 0.79%, and Broadcom down 0.60%, collectively dragging on sentiment.
The decline follows a wave of analyst target price reductions after ARM's Q1 earnings release. Bank of America slashed its target from $460 to $260, RBC Capital cut from $475 to $340, Wells Fargo lowered from $350 to $280, and UBS reduced from $360 to $320. Despite ARM delivering Q1 adjusted EPS of $0.45 versus the $0.40 consensus and revenue of $1.29 billion beating estimates, persistent valuation concerns and smartphone growth headwinds continue to weigh on the stock after its sharp post-earnings rebound.
(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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