ARM (NASDAQ:ARM) Stock Price Down 1.7% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM) dropped 1.7% during mid-day trading on Wednesday . The stock traded as low as $154.01 and last traded at $155.05. Approximately 1,076,842 shares traded hands during trading, a decline of 84% from the average daily volume of 6,708,431 shares. The stock had previously closed at $157.74.

Analysts Set New Price Targets

Several research firms have recently commented on ARM. Benchmark reissued a “hold” rating on shares of ARM in a report on Thursday, February 6th. Wells Fargo & Company increased their price target on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Jefferies Financial Group boosted their price objective on shares of ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Barclays increased their target price on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.83.

ARM Stock Down 1.4 %

The stock has a 50 day simple moving average of $145.45 and a 200 day simple moving average of $139.79. The company has a market cap of $162.94 billion, a price-to-earnings ratio of 204.50, a PEG ratio of 7.83 and a beta of 4.57.

Institutional Trading of ARM

A number of hedge funds have recently made changes to their positions in ARM. ORG Partners LLC acquired a new stake in ARM during the 3rd quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC boosted its stake 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 during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of ARM during the fourth quarter worth approximately $49,000. Quantbot Technologies LP acquired a new stake in shares of ARM in the 3rd quarter valued at about $52,000. Finally, Farther Finance Advisors LLC lifted its position in shares of ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

About ARM

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.