ARM (NASDAQ:ARM) Stock Price Down 1.6% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) traded down 1.6% during mid-day trading on Tuesday . The stock traded as low as $155.65 and last traded at $156.98. 1,888,317 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 6,763,901 shares. The stock had previously closed at $159.54.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities raised their target price on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Susquehanna raised 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. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, February 6th. TD Cowen lifted their price target on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price target on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.83.

ARM Trading Up 0.6 %

The firm’s 50-day moving average price is $147.51 and its 200-day moving average price is $140.82. The stock has a market capitalization of $168.13 billion, a PE ratio of 211.13, a PEG ratio of 7.83 and a beta of 4.57.

Institutional Trading of ARM

Several hedge funds have recently made changes to their positions in ARM. GeoWealth Management LLC raised its position in shares of ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after buying an additional 92 shares in the last quarter. Gilliland Jeter Wealth Management LLC raised its position in shares of ARM by 83.0% during 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 in the last quarter. Colonial Trust Co SC purchased a new stake in shares of ARM during the 4th quarter valued at about $40,000. Berbice Capital Management LLC purchased a new stake in shares of ARM during the 4th quarter valued at about $49,000. Finally, Quantbot Technologies LP purchased a new stake in shares of ARM during the 3rd quarter valued at about $52,000. 7.53% of the stock is currently owned by hedge funds and other 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.