ARM (NASDAQ:ARM) Sets New 12-Month Low – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $84.39 and last traded at $89.81, with a volume of 3831804 shares traded. The stock had previously closed at $97.72.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays upped their price objective on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their target price on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Loop Capital increased their price objective on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Morgan Stanley cut their target price on shares of ARM from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average target price of $163.41.

ARM Stock Down 10.2 %

The company has a market cap of $91.91 billion, a price-to-earnings ratio of 115.41, a P/E/G ratio of 6.33 and a beta of 4.48. The business has a fifty day simple moving average of $133.89 and a 200 day simple moving average of $139.30.

Hedge Funds Weigh In On ARM

A number of large investors have recently made changes to their positions in the stock. GeoWealth Management LLC increased its holdings in ARM by 53.8% in the fourth 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. Colonial Trust Co SC acquired a new stake in shares of ARM in the 4th quarter worth approximately $40,000. Quantbot Technologies LP purchased a new position in ARM in the 3rd quarter valued at approximately $52,000. Berbice Capital Management LLC acquired a new position in ARM during the fourth quarter worth $49,000. Finally, Valley National Advisers Inc. boosted its position in ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Company Profile

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.