ARM (NASDAQ:ARM) Trading Down 3.3% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM) was down 3.3% during mid-day trading on Tuesday . The company traded as low as $116.36 and last traded at $117.37. Approximately 940,043 shares were traded during trading, a decline of 88% from the average daily volume of 7,623,799 shares. The stock had previously closed at $121.37.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ARM shares. Citigroup lifted their price target on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Jefferies Financial Group lifted their price target on ARM from $170.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, February 6th. Evercore ISI lifted their price target on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Loop Capital lifted their price target on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus target price of $165.23.

ARM Stock Performance

The company has a market capitalization of $125.55 billion, a price-to-earnings ratio of 157.38, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77. The company has a 50-day moving average price of $144.74 and a 200-day moving average price of $141.25.

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently modified their holdings of the business. Schroder Investment Management Group grew its position in shares of ARM by 17.9% in the 4th quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock valued at $376,782,000 after purchasing an additional 464,719 shares during the period. Artisan Partners Limited Partnership grew its position in shares of ARM by 48.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock valued at $327,088,000 after purchasing an additional 860,716 shares during the period. FMR LLC grew its position in shares of ARM by 6.4% in the 4th quarter. FMR LLC now owns 2,199,197 shares of the company’s stock valued at $271,293,000 after purchasing an additional 133,034 shares during the period. Franklin Resources Inc. grew its position in shares of ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the period. Finally, First Trust Advisors LP grew its position in shares of ARM by 1.9% in the 4th quarter. First Trust Advisors LP now owns 888,817 shares of the company’s stock valued at $109,644,000 after purchasing an additional 16,400 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.