ARM (NASDAQ:ARM) Reaches New 52-Week Low - Here's Why

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The stock traded as low as $84.39 and last traded at $89.81, with a volume of 3831804 shares traded. The stock had previously closed at $97.72.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARM. The Goldman Sachs Group increased their price target on shares of ARM from $159.00 to $174.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Susquehanna increased their price objective on shares of ARM from $118.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Raymond James boosted their price target on ARM from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. increased their price objective on shares of ARM from $160.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, Benchmark reiterated a "hold" rating on shares of ARM 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 issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $163.41.

ARM Stock Down 3.2 %

The company has a market capitalization of $89.93 billion, a P/E ratio of 112.92, a PEG ratio of 6.33 and a beta of 4.48. The business has a 50 day simple moving average of $132.75 and a 200-day simple moving average of $138.94.

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Institutional Investors Weigh In On ARM

Several large investors have recently made changes to their positions in the company. GeoWealth Management LLC boosted its holdings in shares of ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after acquiring an additional 92 shares in the last quarter. Colonial Trust Co SC purchased a new stake in shares of ARM in the 4th quarter valued at approximately $40,000. Berbice Capital Management LLC acquired a new stake in shares of ARM in the fourth quarter worth $49,000. Valley National Advisers Inc. boosted its position in ARM by 13.3% during the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company's stock worth $75,000 after acquiring an additional 72 shares during the period. Finally, MCF Advisors LLC acquired a new stake in shares of ARM during the fourth quarter worth approximately $83,000. Institutional investors and hedge funds own 7.53% of the company's stock.

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.