ARM (NASDAQ:ARM) Stock Price Down 0% – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price dropped 0% during trading on Monday . The company traded as low as $137.29 and last traded at $141.45. Approximately 1,102,913 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 10,941,342 shares. The stock had previously closed at $141.48.

Wall Street Analyst Weigh In

ARM has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, August 1st. Evercore ISI boosted their price target on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. TD Cowen upgraded shares of ARM to a “strong-buy” rating in a research report on Monday, September 16th. Benchmark started coverage on shares of ARM in a research note on Monday, September 16th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.57.

ARM Stock Down 0.7 %

The company’s fifty day moving average is $140.91 and its 200 day moving average is $136.88. The firm has a market cap of $147.16 billion, a price-to-earnings ratio of 360.52, a PEG ratio of 6.44 and a beta of 5.39.

Institutional Trading of ARM

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after acquiring an additional 806,676 shares during the period. Sei Investments Co. increased its position in ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in ARM by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after buying an additional 14,584 shares in the last quarter. Finally, Mark Asset Management LP grew its stake in ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after buying an additional 29,686 shares in the last quarter. 7.53% of the stock is owned by institutional investors.

About ARM

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.