Arm Holdings plc (NASDAQ:ARM - Get Free Report) shares dropped 3.3% during mid-day trading on Tuesday . The company traded as low as $116.36 and last traded at $117.37. Approximately 940,043 shares changed hands during trading, a decline of 88% from the average daily volume of 7,623,799 shares. The stock had previously closed at $121.37.
Wall Street Analysts Forecast Growth
ARM has been the topic of several research analyst reports. Citigroup boosted their target price on shares of ARM from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Raymond James increased their price target on ARM from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a research note on Thursday, February 6th. Susquehanna upped their price objective on ARM from $118.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their target price on shares of ARM from $162.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $165.23.
Read Our Latest Analysis on ARM
ARM Price Performance
The firm has a 50 day moving average of $142.75 and a 200-day moving average of $140.75. The company has a market cap of $124.77 billion, a P/E ratio of 156.67, a PEG ratio of 6.33 and a beta of 4.77.
Hedge Funds Weigh In On ARM
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GeoWealth Management LLC lifted its stake in ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock worth $32,000 after acquiring an additional 92 shares during the period. Colonial Trust Co SC bought a new position in shares of ARM during the fourth quarter valued at approximately $40,000. Berbice Capital Management LLC purchased a new position in ARM during the fourth quarter valued at approximately $49,000. Quantbot Technologies LP purchased a new stake in ARM during the third quarter worth $52,000. Finally, Valley National Advisers Inc. increased its holdings in shares of ARM by 13.3% in the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company's stock valued at $75,000 after acquiring an additional 72 shares during the period. 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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