ARM (NASDAQ:ARM) Stock Price Down 2.2% – Here’s Why

Shares of Arm Holdings plc (NASDAQ:ARM) fell 2.2% during trading on Friday . The company traded as low as $147.11 and last traded at $147.58. 863,919 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 6,542,721 shares. The stock had previously closed at $150.85.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ARM shares. Loop Capital upped their price objective on shares of ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Jefferies Financial Group increased 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. Benchmark restated a “hold” rating on shares of ARM in a report on Thursday, February 6th. Citigroup increased their target price on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.83.

ARM Stock Down 4.5 %

The business has a 50 day simple moving average of $147.79 and a 200-day simple moving average of $140.98. The company has a market capitalization of $150.96 billion, a P/E ratio of 189.46, a PEG ratio of 6.75 and a beta of 4.57.

Institutional Investors Weigh In On ARM

Several large investors have recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings in ARM by 119.1% in the 4th quarter. Toronto Dominion Bank now owns 3,893 shares of the company’s stock worth $480,000 after buying an additional 2,116 shares in the last quarter. Warm Springs Advisors Inc. acquired a new position in ARM during the 4th quarter worth $1,851,000. GF Fund Management CO. LTD. bought a new position in shares of ARM in the fourth quarter worth $2,995,000. Public Employees Retirement System of Ohio acquired a new position in shares of ARM during the fourth quarter valued at $11,786,000. Finally, Vega Investment Solutions bought a new stake in shares of ARM during the fourth quarter valued at about $780,000. 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.