ARM (NASDAQ:ARM) Stock Price Down 2.8% – Should You Sell?

Arm Holdings plc (NASDAQ:ARM)’s share price was down 2.8% during trading on Tuesday . The stock traded as low as $133.16 and last traded at $136.60. Approximately 2,067,386 shares were traded during trading, a decline of 68% from the average daily volume of 6,450,238 shares. The stock had previously closed at $140.53.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. TD Cowen lifted their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of ARM in a report on Thursday, February 6th. Wells Fargo & Company lifted their target price on ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Jefferies Financial Group increased their price target on ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $162.83.

ARM Trading Down 1.4 %

The firm has a market cap of $145.26 billion, a PE ratio of 181.71, a P/E/G ratio of 6.33 and a beta of 4.56. The company’s 50-day moving average is $147.56 and its 200 day moving average is $141.81.

Institutional Trading of ARM

Several hedge funds and other institutional investors have recently modified their holdings of ARM. Artisan Partners Limited Partnership boosted its position in ARM by 48.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock worth $327,088,000 after acquiring an additional 860,716 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of ARM by 4,506.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock worth $107,774,000 after purchasing an additional 791,392 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of ARM by 17.9% during the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock worth $376,782,000 after purchasing an additional 464,719 shares during the period. Marshall Wace LLP purchased a new position in ARM during the fourth quarter valued at approximately $51,901,000. Finally, Banque Transatlantique SA acquired a new position in ARM in the 4th quarter valued at approximately $37,440,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Company Profile

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.