ARM (NASDAQ:ARM) Stock Price Down 1.1% – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. UBS Group assumed coverage on shares of ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective on the stock. Barclays increased their price objective on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Raymond James increased their target price on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Citigroup increased their target price on shares of ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Mizuho increased their target price on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has given 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 target price of $165.23.

ARM Stock Performance

The company has a market cap of $124.77 billion, a price-to-earnings ratio of 156.67, a PEG ratio of 6.33 and a beta of 4.77. The company’s 50 day moving average price is $142.75 and its 200 day moving average price is $140.87.

Institutional Trading of ARM

Several hedge funds have recently made changes to their positions in ARM. Schroder Investment Management Group lifted its stake in shares of 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. Artisan Partners Limited Partnership lifted its stake in shares of ARM by 48.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock valued at $327,088,000 after purchasing an additional 860,716 shares during the period. FMR LLC lifted its stake in shares of ARM by 6.4% in the fourth quarter. FMR LLC now owns 2,199,197 shares of the company’s stock valued at $271,293,000 after purchasing an additional 133,034 shares during the period. Franklin Resources Inc. lifted its stake in shares of ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of ARM by 1.9% in the fourth quarter. First Trust Advisors LP now owns 888,817 shares of the company’s stock valued at $109,644,000 after purchasing an additional 16,400 shares during the period. Institutional investors and hedge funds 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.