ARM (NASDAQ:ARM) Stock Price Down 1.1% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price dropped 1.1% during trading on Friday . The stock traded as low as $115.50 and last traded at $117.73. Approximately 640,827 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 7,574,261 shares. The stock had previously closed at $119.07.

Analysts Set New Price Targets

ARM has been the subject of several research reports. Raymond James boosted their price target on shares of ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Benchmark reiterated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Barclays boosted their target price on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.23.

ARM Stock Down 0.1 %

The firm has a market cap of $124.65 billion, a price-to-earnings ratio of 156.90, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77. The business has a 50 day moving average of $143.18 and a 200 day moving average of $140.84.

Institutional Trading of ARM

A number of large investors have recently made changes to their positions in ARM. Victory Capital Management Inc. boosted its stake in shares of ARM by 5.1% during the third quarter. Victory Capital Management Inc. now owns 56,421 shares of the company’s stock valued at $8,069,000 after acquiring an additional 2,745 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of ARM during the third quarter valued at $223,000. Empowered Funds LLC boosted its stake in shares of ARM by 37.9% during the third quarter. Empowered Funds LLC now owns 3,995 shares of the company’s stock valued at $571,000 after acquiring an additional 1,098 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of ARM by 94.1% during the third quarter. Banque Cantonale Vaudoise now owns 3,865 shares of the company’s stock valued at $553,000 after acquiring an additional 1,874 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in ARM in the 3rd quarter worth about $772,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.