ARM (NASDAQ:ARM) Shares Down 1.7% – Here’s Why

Shares of Arm Holdings plc (NASDAQ:ARM) traded down 1.7% on Wednesday . The company traded as low as $155.41 and last traded at $157.60. 1,306,469 shares changed hands during trading, a decline of 80% from the average session volume of 6,681,946 shares. The stock had previously closed at $160.32.

Wall Street Analysts Forecast Growth

ARM has been the topic of several recent research reports. Jefferies Financial Group lifted their target price on shares of ARM from $170.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Susquehanna boosted their price objective on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group increased their target price on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Barclays boosted their price target on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Benchmark restated a “hold” rating on shares of ARM in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average price target of $162.83.

ARM Trading Down 3.2 %

The company’s 50-day moving average price is $147.51 and its two-hundred day moving average price is $140.82. The company has a market cap of $162.65 billion, a P/E ratio of 204.09, a price-to-earnings-growth ratio of 6.98 and a beta of 4.57.

Institutional Trading of ARM

A number of large investors have recently added to or reduced their stakes in the business. Creative Planning boosted its stake in shares of ARM by 20.2% during the 3rd quarter. Creative Planning now owns 37,982 shares of the company’s stock worth $5,432,000 after acquiring an additional 6,381 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of ARM by 72.5% in the 3rd quarter. Global Retirement Partners LLC now owns 3,478 shares of the company’s stock valued at $497,000 after purchasing an additional 1,462 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in ARM by 12.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,552 shares of the company’s stock worth $2,081,000 after purchasing an additional 1,667 shares in the last quarter. Blue Trust Inc. increased its stake in ARM by 13.1% in the 3rd quarter. Blue Trust Inc. now owns 1,463 shares of the company’s stock worth $209,000 after purchasing an additional 169 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in ARM by 16.4% during the 3rd quarter. Raymond James & Associates now owns 151,744 shares of the company’s stock worth $21,701,000 after buying an additional 21,360 shares during the period. 7.53% of the stock is currently owned by 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.