ARM (NASDAQ:ARM) Trading Down 1.7% – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s stock price was down 1.7% on Wednesday . The stock traded as low as $155.41 and last traded at $157.60. Approximately 1,306,469 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 6,681,946 shares. The stock had previously closed at $160.32.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARM. JPMorgan Chase & Co. upped their price target on shares of ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Loop Capital lifted their price target on ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Jefferies Financial Group boosted their price target on ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. UBS Group assumed coverage on ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Citigroup boosted their target price on ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus target price of $162.83.

ARM Price Performance

The stock has a 50-day moving average of $147.79 and a 200 day moving average of $140.98. The company has a market cap of $151.80 billion, a P/E ratio of 190.62, a PEG ratio of 6.75 and a beta of 4.57.

Hedge Funds Weigh In On ARM

Several hedge funds have recently bought and sold shares of ARM. Schroder Investment Management Group boosted its position in shares of ARM by 17.9% during the 4th quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock worth $376,782,000 after acquiring an additional 464,719 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in ARM by 48.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock worth $327,088,000 after purchasing an additional 860,716 shares during the last quarter. FMR LLC boosted 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 purchasing an additional 133,034 shares in the last quarter. Franklin Resources Inc. increased its stake 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 purchasing an additional 228,467 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings 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 worth $109,644,000 after buying an additional 16,400 shares in the last quarter. 7.53% of the stock is owned by institutional investors.

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.