ARM (NASDAQ:ARM) Stock Price Down 3.5% – Here’s Why

Shares of Arm Holdings plc (NASDAQ:ARM) dropped 3.5% during mid-day trading on Thursday . The stock traded as low as $147.53 and last traded at $148.94. Approximately 1,510,249 shares traded hands during trading, a decline of 77% from the average daily volume of 6,645,229 shares. The stock had previously closed at $154.36.

Wall Street Analyst Weigh In

ARM has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Evercore ISI raised their price objective on shares of ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. UBS Group started coverage on shares of ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. 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. Finally, The Goldman Sachs Group lifted their target price on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.83.

ARM Stock Down 4.0 %

The firm has a market cap of $151.80 billion, a P/E ratio of 190.62, a price-to-earnings-growth ratio of 6.60 and a beta of 4.57. The business’s 50 day moving average is $147.65 and its 200-day moving average is $141.22.

Institutional Investors Weigh In On ARM

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Schroder Investment Management Group grew its stake in ARM by 17.9% in 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 in the last quarter. 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 worth $327,088,000 after acquiring an additional 860,716 shares in the last quarter. FMR LLC increased its holdings 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 acquiring an additional 133,034 shares during the last quarter. Franklin Resources Inc. increased its holdings 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 acquiring an additional 228,467 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of ARM by 1.9% during the 4th quarter. First Trust Advisors LP now owns 888,817 shares of the company’s stock valued at $109,644,000 after acquiring an additional 16,400 shares in the last quarter. Institutional investors 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.