ARM (NASDAQ:ARM) Trading Down 3.5% – Time to Sell?

by · The Cerbat Gem

Shares of Arm Holdings plc (NASDAQ:ARM – Get Free Report) dropped 3.5% on Thursday . The company traded as low as $147.53 and last traded at $148.94. Approximately 1,510,249 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 6,645,229 shares. The stock had previously closed at $154.36.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ARM. JPMorgan Chase & Co. lifted their target price on shares of ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Benchmark restated a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Wells Fargo & Company increased their price objective on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Mizuho boosted their target price on ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Rosenblatt Securities increased their price target on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARM has an average rating of “Moderate Buy” and a consensus price target of $162.83.

Check Out Our Latest Research Report on ARM

ARM Stock Performance

The firm has a 50-day simple moving average of $147.65 and a two-hundred day simple moving average of $141.22. The company has a market capitalization of $151.80 billion, a price-to-earnings ratio of 190.62, a P/E/G ratio of 6.60 and a beta of 4.57.

Hedge Funds Weigh In On ARM

Several large investors have recently bought and sold shares of the business. GeoWealth Management LLC increased its holdings in shares of ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after acquiring an additional 92 shares during the last quarter. Colonial Trust Co SC purchased a new position in ARM in the fourth quarter valued at approximately $40,000. Berbice Capital Management LLC acquired a new stake in ARM during the fourth quarter worth approximately $49,000. Quantbot Technologies LP purchased a new stake in shares of ARM during the 3rd quarter worth approximately $52,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

About ARM

(Get Free Report)

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.

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