ARM (NASDAQ:ARM) Stock Price Down 0% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price was down 0% on Monday . The stock traded as low as $137.29 and last traded at $141.45. Approximately 1,102,913 shares changed hands during trading, a decline of 90% from the average daily volume of 10,941,342 shares. The stock had previously closed at $141.48.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ARM. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price target on shares of ARM in a report on Thursday, August 1st. William Blair initiated coverage on shares of ARM in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Evercore ISI lifted their price target on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

ARM Price Performance

The stock’s fifty day moving average is $140.91 and its two-hundred day moving average is $136.88. The stock has a market capitalization of $147.16 billion, a P/E ratio of 360.52, a PEG ratio of 6.44 and a beta of 5.39.

Hedge Funds Weigh In On ARM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARM. RiverPark Advisors LLC raised its holdings in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in ARM by 14.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after acquiring an additional 77 shares during the period. BOKF NA grew its position in ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its position in ARM by 1.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after purchasing an additional 100 shares during the last quarter. Finally, Comerica Bank grew its position in ARM by 6.1% in the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

About ARM

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.