ARM (NASDAQ:ARM) Trading Down 0.7% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) shares dropped 0.7% during mid-day trading on Thursday . The company traded as low as $154.12 and last traded at $154.33. Approximately 811,062 shares were traded during trading, a decline of 88% from the average daily volume of 6,588,585 shares. The stock had previously closed at $155.41.

Analyst Upgrades and Downgrades

ARM has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Loop Capital upped their target price on shares of ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Benchmark reissued a “hold” rating on shares of ARM in a research note on Thursday, February 6th. The Goldman Sachs Group upped their price objective on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.83.

ARM Stock Performance

The firm’s 50-day moving average price is $146.64 and its 200 day moving average price is $140.19. The company has a market cap of $167.17 billion, a price-to-earnings ratio of 209.92, a PEG ratio of 7.83 and a beta of 4.57.

Institutional Investors Weigh In On ARM

A number of institutional investors have recently made changes to their positions in the stock. GeoWealth Management LLC grew its holdings in ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after purchasing an additional 92 shares during the period. Gilliland Jeter Wealth Management LLC grew its holdings in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares during the period. Berbice Capital Management LLC acquired a new position in ARM in the fourth quarter valued at about $49,000. Quantbot Technologies LP acquired a new position in ARM in the third quarter valued at about $52,000. Finally, Farther Finance Advisors LLC grew its stake in ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after acquiring an additional 131 shares during the period. 7.53% of the stock is owned by institutional investors and hedge funds.

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.