ARM (NASDAQ:ARM) Stock Price Down 1.6% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ARM shares. Raymond James upped their price target on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Jefferies Financial Group upped their price target on shares of ARM from $170.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, February 6th. TD Cowen upped their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a research note on Thursday, October 31st. Finally, Citigroup upped their target price on shares of ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.83.

ARM Stock Up 0.6 %

The stock’s 50 day moving average price is $147.51 and its 200-day moving average price is $140.82. The stock has a market capitalization of $168.13 billion, a P/E ratio of 211.13, a P/E/G ratio of 7.83 and a beta of 4.57.

Institutional Investors Weigh In On ARM

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Schroder Investment Management Group lifted its position in ARM by 17.9% during the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock valued at $376,782,000 after acquiring an additional 464,719 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in ARM by 48.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock valued at $327,088,000 after acquiring an additional 860,716 shares during the last quarter. FMR LLC lifted its position in ARM by 6.4% during the fourth quarter. FMR LLC now owns 2,199,197 shares of the company’s stock valued at $271,293,000 after acquiring an additional 133,034 shares during the last quarter. Franklin Resources Inc. lifted its position in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in ARM by 1.9% during the fourth quarter. First Trust Advisors LP now owns 888,817 shares of the company’s stock valued at $109,644,000 after acquiring an additional 16,400 shares during 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.