ARM (NASDAQ:ARM) Trading Down 1.6% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s share price fell 1.6% on Tuesday . The company traded as low as $155.65 and last traded at $156.98. 1,888,317 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 6,763,901 shares. The stock had previously closed at $159.54.

Analysts Set New Price Targets

Several research firms recently weighed in on ARM. Mizuho raised their target price on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup boosted their target price on ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Susquehanna boosted their target price on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Evercore ISI increased their target price on shares of ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $162.83.

ARM Price Performance

The stock has a market cap of $158.07 billion, a P/E ratio of 198.49, a price-to-earnings-growth ratio of 7.01 and a beta of 4.57. The company has a 50 day simple moving average of $147.79 and a 200-day simple moving average of $140.98.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. GeoWealth Management LLC raised its stake in ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after buying an additional 92 shares in the last quarter. Colonial Trust Co SC purchased a new position in shares of ARM in the 4th quarter valued at approximately $40,000. Berbice Capital Management LLC bought a new stake in shares of ARM during the fourth quarter valued at approximately $49,000. Quantbot Technologies LP purchased a new stake in ARM in the third quarter worth $52,000. Finally, Farther Finance Advisors LLC lifted its position in ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after buying an additional 131 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.