ARM (NASDAQ:ARM) Stock Price Down 4.4% – Here’s What Happened

Arm Holdings plc (NASDAQ:ARM)’s stock price traded down 4.4% during mid-day trading on Friday . The stock traded as low as $156.61 and last traded at $157.53. 3,058,566 shares changed hands during trading, a decline of 55% from the average session volume of 6,816,160 shares. The stock had previously closed at $164.83.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research note on Thursday, October 31st. Barclays boosted their target price 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. Raymond James boosted their target price on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their target price on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Jefferies Financial Group boosted their target price on shares of ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $162.83.

ARM Stock Performance

The firm has a market cap of $167.17 billion, a PE ratio of 209.92, a PEG ratio of 7.83 and a beta of 4.57. The stock has a fifty day moving average price of $146.64 and a 200-day moving average price of $140.24.

Institutional Trading of ARM

A number of institutional investors have recently modified their holdings of the company. GeoWealth Management LLC boosted its holdings in ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after acquiring an additional 92 shares during the period. Gilliland Jeter Wealth Management LLC boosted its holdings in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the period. Berbice Capital Management LLC purchased a new position in ARM in the 4th quarter worth approximately $49,000. Quantbot Technologies LP purchased a new position in ARM in the 3rd quarter worth approximately $52,000. Finally, Farther Finance Advisors LLC boosted its holdings in ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Company Profile

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.