ARM (NASDAQ:ARM) Stock Price Down 1.1% - Here's Why

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s stock price fell 1.1% during mid-day trading on Friday . The company traded as low as $115.50 and last traded at $117.73. 640,827 shares changed hands during trading, a decline of 92% from the average session volume of 7,574,261 shares. The stock had previously closed at $119.07.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James raised their price target on ARM from $160.00 to $175.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Evercore ISI lifted their target price on shares of ARM from $176.00 to $202.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Susquehanna increased their price target on shares of ARM from $118.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Jefferies Financial Group raised their price target on shares of ARM from $170.00 to $195.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Mizuho upped their price objective on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned 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 currently has an average rating of "Moderate Buy" and a consensus price target of $165.23.

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ARM Trading Down 1.2 %

The company has a market cap of $129.29 billion, a PE ratio of 162.32, a PEG ratio of 6.33 and a beta of 4.77. The business's 50 day moving average is $142.51 and its two-hundred day moving average is $141.02.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently made changes to their positions in the business. Centaurus Financial Inc. raised its position in shares of ARM by 77.4% during the fourth quarter. Centaurus Financial Inc. now owns 7,384 shares of the company's stock valued at $911,000 after buying an additional 3,222 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in ARM by 2.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,929 shares of the company's stock valued at $608,000 after acquiring an additional 96 shares during the last quarter. Toronto Dominion Bank lifted its stake in ARM by 119.1% in the 4th quarter. Toronto Dominion Bank now owns 3,893 shares of the company's stock worth $480,000 after purchasing an additional 2,116 shares in the last quarter. Warm Springs Advisors Inc. bought a new position in shares of ARM during the 4th quarter valued at about $1,851,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of ARM during the fourth quarter valued at about $2,995,000. 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.