ARM (NASDAQ:ARM) Trading Down 3.3% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM) fell 3.3% during trading on Tuesday . The stock traded as low as $116.36 and last traded at $117.37. 940,043 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 7,623,799 shares. The stock had previously closed at $121.37.

Analyst Upgrades and Downgrades

Several research firms have commented on ARM. Rosenblatt Securities boosted their target price on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted 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. The Goldman Sachs Group boosted 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. Loop Capital boosted their target price on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, UBS Group started coverage on ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $165.23.

ARM Trading Down 1.3 %

The business has a 50 day moving average of $144.74 and a two-hundred day moving average of $141.25. The firm has a market cap of $125.55 billion, a P/E ratio of 157.38, a PEG ratio of 6.33 and a beta of 4.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARM. Apollon Wealth Management LLC grew its holdings in ARM by 79.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,338 shares of the company’s stock valued at $334,000 after buying an additional 1,035 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in ARM by 46.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 31,487 shares of the company’s stock valued at $4,503,000 after buying an additional 10,047 shares in the last quarter. Victory Capital Management Inc. grew its holdings in ARM by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 56,421 shares of the company’s stock valued at $8,069,000 after buying an additional 2,745 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in ARM in the 3rd quarter valued at $223,000. Finally, CIBC Asset Management Inc grew its holdings in ARM by 9.8% in the 3rd quarter. CIBC Asset Management Inc now owns 20,585 shares of the company’s stock valued at $2,944,000 after buying an additional 1,840 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

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.