ARM (NASDAQ:ARM) Stock Price Down 1.7% – Should You Sell?

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

Analysts Set New Price Targets

Several analysts have weighed in on ARM shares. Wells Fargo & Company boosted their price target on shares of ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. TD Cowen increased their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Susquehanna upped their price target on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Finally, Jefferies Financial Group boosted their target price on ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus target price of $162.83.

ARM Stock Performance

The company has a market capitalization of $162.65 billion, a price-to-earnings ratio of 204.09, a P/E/G ratio of 6.98 and a beta of 4.57. The stock’s 50-day moving average price is $147.51 and its 200-day moving average price is $140.82.

Institutional Investors Weigh In On ARM

Several hedge funds have recently modified their holdings of the company. Artisan Partners Limited Partnership boosted its stake in ARM by 48.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock worth $327,088,000 after buying an additional 860,716 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after acquiring an additional 806,676 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of ARM by 4,506.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock worth $107,774,000 after acquiring an additional 791,392 shares during the last quarter. Schroder Investment Management Group grew its holdings in ARM by 17.9% in the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock valued at $376,782,000 after purchasing an additional 464,719 shares during the period. Finally, Marshall Wace LLP purchased a new position in ARM during the fourth quarter worth approximately $51,901,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.