ARM (NASDAQ:ARM) Stock Price Down 1.1% – Here’s Why

Shares of Arm Holdings plc (NASDAQ:ARM) dropped 1.1% on Friday . The company traded as low as $115.50 and last traded at $117.73. Approximately 640,827 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 7,574,261 shares. The stock had previously closed at $119.07.

Wall Street Analysts Forecast Growth

ARM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Needham & Company LLC reiterated 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 stock an “overweight” rating in a report on Thursday, February 6th. Citigroup raised their price objective on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Loop Capital raised their price objective on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.23.

ARM Trading Down 0.1 %

The firm has a 50-day simple moving average of $143.18 and a two-hundred day simple moving average of $140.84. The company has a market capitalization of $124.65 billion, a price-to-earnings ratio of 156.90, a P/E/G ratio of 6.33 and a beta of 4.77.

Institutional Trading of ARM

Institutional investors have recently made changes to their positions in the company. Tufton Capital Management raised its position in ARM by 1.5% in the fourth quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock valued at $546,000 after purchasing an additional 65 shares during the period. Valley National Advisers Inc. raised its position in ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after purchasing an additional 72 shares during the period. Zullo Investment Group Inc. raised its position in ARM by 4.6% in the fourth quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after purchasing an additional 85 shares during the period. GeoWealth Management LLC grew its stake in shares of ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after acquiring an additional 92 shares in the last quarter. Finally, Cibc World Markets Corp grew its stake in shares of ARM by 3.5% in the fourth quarter. Cibc World Markets Corp now owns 2,838 shares of the company’s stock worth $350,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other 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.