ARM (NASDAQ:ARM) Stock Price Down 0.8% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) were down 0.8% during mid-day trading on Monday . The stock traded as low as $158.58 and last traded at $161.14. Approximately 1,541,691 shares were traded during trading, a decline of 78% from the average daily volume of 6,991,381 shares. The stock had previously closed at $162.51.

Wall Street Analyst Weigh In

ARM has been the topic of several research reports. Loop Capital increased their price target on shares of ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Raymond James raised their price objective on ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Evercore ISI upped their price target on shares of ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Barclays lifted their price objective on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.83.

ARM Price Performance

The firm has a market capitalization of $162.84 billion, a price-to-earnings ratio of 204.49, a PEG ratio of 7.83 and a beta of 4.57. The stock’s 50 day moving average price is $145.45 and its two-hundred day moving average price is $139.79.

Hedge Funds Weigh In On ARM

Institutional investors have recently made changes to their positions in the business. ORG Partners LLC bought a new position in shares of ARM during the 3rd quarter worth about $29,000. Gilliland Jeter Wealth Management LLC raised its holdings in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares in the last quarter. Berbice Capital Management LLC bought a new position in shares of ARM during the 4th quarter worth approximately $49,000. Quantbot Technologies LP acquired a new stake in ARM in the 3rd quarter valued at $52,000. Finally, Farther Finance Advisors LLC grew its position in ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after acquiring an additional 131 shares during the period. 7.53% of the stock is currently owned by institutional investors.

ARM Company Profile

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.