ARM (NASDAQ:ARM) Trading Down 0.7% – Here’s Why

Arm Holdings plc (NASDAQ:ARM) dropped 0.7% during trading on Thursday . The company traded as low as $154.12 and last traded at $154.33. Approximately 811,062 shares were traded during trading, a decline of 88% from the average daily volume of 6,588,585 shares. The stock had previously closed at $155.41.

Wall Street Analyst Weigh In

ARM has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Loop Capital increased their target price on ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James lifted their target price on ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Evercore ISI raised their price target on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Jefferies Financial Group lifted their target price on ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.83.

ARM Stock Performance

The company has a 50 day moving average of $145.73 and a 200-day moving average of $139.90. The stock has a market cap of $170.07 billion, a price-to-earnings ratio of 213.57, a price-to-earnings-growth ratio of 7.83 and a beta of 4.57.

Institutional Trading of ARM

Large investors have recently made changes to their positions in the company. Brookstone Capital Management lifted its position in ARM by 12.4% during the 3rd quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock worth $202,000 after acquiring an additional 156 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of ARM by 23.2% in the 3rd quarter. Ritholtz Wealth Management now owns 2,764 shares of the company’s stock valued at $395,000 after buying an additional 520 shares during the period. Concourse Financial Group Securities Inc. lifted its holdings in shares of ARM by 10.0% in the 3rd quarter. Concourse Financial Group Securities Inc. now owns 2,890 shares of the company’s stock valued at $413,000 after buying an additional 263 shares during the period. ORG Partners LLC acquired a new stake in shares of ARM in the 3rd quarter valued at approximately $29,000. Finally, Wesbanco Bank Inc. acquired a new stake in shares of ARM in the 3rd quarter valued at approximately $543,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.