ARM (NASDAQ:ARM) Trading Down 0.7% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) was down 0.7% on Thursday . The stock traded as low as $154.12 and last traded at $154.33. Approximately 811,062 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 6,588,585 shares. The stock had previously closed at $155.41.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ARM shares. Susquehanna raised their price objective on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their price objective on ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. TD Cowen raised their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. Finally, Jefferies Financial Group raised their price target on ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.83.

ARM Trading Up 4.4 %

The business has a 50-day moving average price of $145.73 and a two-hundred day moving average price of $139.90. The firm has a market capitalization of $170.07 billion, a price-to-earnings ratio of 213.57, a PEG ratio of 7.83 and a beta of 4.57.

Hedge Funds Weigh In On ARM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brookstone Capital Management boosted its stake in ARM by 12.4% during the 3rd quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after purchasing an additional 156 shares in the last quarter. Ritholtz Wealth Management boosted its stake in ARM by 23.2% during the 3rd quarter. Ritholtz Wealth Management now owns 2,764 shares of the company’s stock valued at $395,000 after purchasing an additional 520 shares in the last quarter. Concourse Financial Group Securities Inc. boosted its stake in shares of ARM by 10.0% during the 3rd quarter. Concourse Financial Group Securities Inc. now owns 2,890 shares of the company’s stock worth $413,000 after acquiring an additional 263 shares in the last quarter. ORG Partners LLC bought a new stake in shares of ARM during the 3rd quarter worth $29,000. Finally, Wesbanco Bank Inc. bought a new stake in shares of ARM during the 3rd quarter worth $543,000. 7.53% of the stock is owned by institutional investors.

About ARM

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.