ARM (NASDAQ:ARM) Shares Down 2.2% – Time to Sell?

Shares of Arm Holdings plc (NASDAQ:ARM) dropped 2.2% during mid-day trading on Friday . The stock traded as low as $147.11 and last traded at $147.58. Approximately 863,919 shares traded hands during trading, a decline of 87% from the average daily volume of 6,542,721 shares. The stock had previously closed at $150.85.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARM. Wells Fargo & Company increased their target price on ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. Benchmark restated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. The Goldman Sachs Group lifted their price target on ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Loop Capital upped their price objective on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, February 10th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $162.83.

ARM Stock Down 4.0 %

The firm’s 50 day simple moving average is $147.65 and its 200 day simple moving average is $141.41. The company has a market cap of $151.80 billion, a price-to-earnings ratio of 190.62, a price-to-earnings-growth ratio of 6.60 and a beta of 4.57.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership lifted its stake in shares of 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 acquiring an additional 860,716 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in ARM by 4,506.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock worth $107,774,000 after purchasing an additional 791,392 shares in the last quarter. Schroder Investment Management Group lifted its position in ARM by 17.9% in the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock worth $376,782,000 after purchasing an additional 464,719 shares during the period. Marshall Wace LLP bought a new position in ARM during the 4th quarter valued at $51,901,000. Finally, Banque Transatlantique SA acquired a new position in shares of ARM during the 4th quarter valued at $37,440,000. 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.