ARM (NASDAQ:ARM) Shares Down 1.7% – Here’s Why

Shares of Arm Holdings plc (NASDAQ:ARM) fell 1.7% during mid-day trading on Wednesday . The company traded as low as $155.41 and last traded at $157.60. 1,306,469 shares were traded during trading, a decline of 80% from the average session volume of 6,681,946 shares. The stock had previously closed at $160.32.

Wall Street Analysts Forecast Growth

ARM has been the subject of several research reports. Mizuho raised their target price on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Barclays increased their price target on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Wells Fargo & Company boosted their price objective on ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. TD Cowen increased their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group boosted their price target on ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $162.83.

ARM Trading Down 4.0 %

The firm has a 50-day moving average of $147.79 and a 200 day moving average of $140.98. The company has a market cap of $151.80 billion, a P/E ratio of 190.62, a price-to-earnings-growth ratio of 6.75 and a beta of 4.57.

Hedge Funds Weigh In On ARM

Institutional investors and hedge funds have recently modified their holdings of the business. Tufton Capital Management lifted its position in shares of ARM by 1.5% during the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock valued at $546,000 after acquiring an additional 65 shares during the period. Valley National Advisers Inc. raised its holdings in shares of ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after purchasing an additional 72 shares during the period. Zullo Investment Group Inc. boosted its position in shares of ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock worth $236,000 after purchasing an additional 85 shares in the last quarter. GeoWealth Management LLC grew its stake in shares of ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after buying an additional 92 shares during the period. Finally, Cibc World Markets Corp increased its position in ARM by 3.5% in the 4th quarter. Cibc World Markets Corp now owns 2,838 shares of the company’s stock valued at $350,000 after buying an additional 96 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.