ARM (NASDAQ:ARM) Stock Price Down 1.7% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price fell 1.7% during trading on Wednesday . The stock traded as low as $154.01 and last traded at $155.05. 1,076,842 shares were traded during trading, a decline of 84% from the average session volume of 6,708,431 shares. The stock had previously closed at $157.74.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARM. Barclays raised their price target on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Citigroup raised 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. Sanford C. Bernstein lowered 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. JPMorgan Chase & Co. lifted their price objective on shares of ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, TD Cowen upped their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and an average price target of $162.83.

ARM Trading Down 1.4 %

The company has a market cap of $162.94 billion, a price-to-earnings ratio of 204.50, a P/E/G ratio of 7.83 and a beta of 4.57. The business has a 50-day moving average price of $145.45 and a 200 day moving average price of $139.79.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC purchased a new position in ARM during the 3rd quarter worth approximately $29,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares in the last quarter. Berbice Capital Management LLC acquired a new position in ARM during the fourth quarter valued at $49,000. Quantbot Technologies LP purchased a new stake in ARM in the 3rd quarter worth about $52,000. Finally, Farther Finance Advisors LLC boosted its position in ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.