ARM (NASDAQ:ARM) Trading Down 0.8% – What’s Next?

Arm Holdings plc (NASDAQ:ARM) shares dropped 0.8% during mid-day trading on Monday . The company traded as low as $158.58 and last traded at $161.14. Approximately 1,541,691 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 6,991,381 shares. The stock had previously closed at $162.51.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Benchmark reiterated a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Susquehanna increased their target price on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Rosenblatt Securities boosted their price target on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, February 6th. TD Cowen increased their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and an average price target of $162.83.

ARM Stock Performance

The firm’s fifty day simple moving average is $145.45 and its 200 day simple moving average is $139.79. The firm has a market cap of $162.84 billion, a P/E ratio of 204.49, a P/E/G ratio of 7.83 and a beta of 4.57.

Institutional Trading of ARM

Several institutional investors have recently added to or reduced their stakes in ARM. Brookstone Capital Management boosted its holdings in shares of ARM by 12.4% in the third quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after purchasing an additional 156 shares during the period. Ritholtz Wealth Management lifted its position in ARM by 23.2% during the third quarter. Ritholtz Wealth Management now owns 2,764 shares of the company’s stock valued at $395,000 after acquiring an additional 520 shares during the last quarter. Concourse Financial Group Securities Inc. grew its stake in ARM by 10.0% during the 3rd quarter. Concourse Financial Group Securities Inc. now owns 2,890 shares of the company’s stock worth $413,000 after buying an additional 263 shares during the last quarter. VitalStone Financial LLC purchased a new stake in shares of ARM during the third quarter worth about $110,000. Finally, ORG Partners LLC acquired a new position in ARM during the 3rd quarter valued at approximately $29,000. Institutional investors 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.