ARM (NASDAQ:ARM) Trading Down 1.7% - Here's What Happened

Arm Holdings plc (NASDAQ:ARM - Get Free Report) dropped 1.7% on Wednesday . The stock traded as low as $155.41 and last traded at $157.60. Approximately 1,306,469 shares changed hands during trading, a decline of 80% from the average daily volume of 6,681,946 shares. The stock had previously closed at $160.32.

Analysts Set New Price Targets

ARM has been the subject of several recent analyst reports. Benchmark reiterated a "hold" rating on shares of ARM in a research note on Thursday, February 6th. TD Cowen increased their price target on ARM from $150.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Raymond James boosted their price objective on shares of ARM from $160.00 to $175.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Jefferies Financial Group upped their price objective on shares of ARM from $170.00 to $195.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Rosenblatt Securities boosted their target price on shares of ARM from $180.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.83.

ARM Stock Down 3.5 %

The stock has a market capitalization of $152.46 billion, a P/E ratio of 190.97, a PEG ratio of 6.75 and a beta of 4.57. The business has a 50-day simple moving average of $147.79 and a two-hundred day simple moving average of $140.98.

Hedge Funds Weigh In On ARM

Institutional investors have recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its position in ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after acquiring an additional 92 shares during the last quarter. Colonial Trust Co SC bought a new stake in shares of ARM during the fourth quarter worth $40,000. Quantbot Technologies LP acquired a new stake in shares of ARM in the third quarter valued at $52,000. Berbice Capital Management LLC acquired a new position in ARM during the 4th quarter worth about $49,000. Finally, Farther Finance Advisors LLC grew its holdings in ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company's stock worth $60,000 after acquiring an additional 131 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

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.