ARM (NASDAQ:ARM) Stock Price Down 3.3% – Should You Sell?

Arm Holdings plc (NASDAQ:ARM) shares fell 3.3% during trading on Tuesday . The company traded as low as $116.36 and last traded at $117.37. 940,043 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 7,623,799 shares. The stock had previously closed at $121.37.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ARM. Evercore ISI raised their target price on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. UBS Group started coverage on ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. Mizuho lifted their price objective on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Raymond James lifted their price objective on ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Benchmark reiterated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.23.

ARM Stock Down 1.5 %

The company has a fifty day simple moving average of $143.70 and a 200-day simple moving average of $141.00. The firm has a market cap of $123.55 billion, a P/E ratio of 155.15, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77.

Institutional Trading of ARM

Several hedge funds have recently bought and sold shares of the stock. Tufton Capital Management grew its holdings in ARM by 1.5% during the fourth quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock valued at $546,000 after purchasing an additional 65 shares during the period. Valley National Advisers Inc. lifted its position in shares of ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after acquiring an additional 72 shares in the last quarter. Zullo Investment Group Inc. lifted its position in shares of ARM by 4.6% in the fourth quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after acquiring an additional 85 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after buying an additional 92 shares in the last quarter. Finally, Cibc World Markets Corp lifted its position in shares of ARM by 3.5% in the fourth quarter. Cibc World Markets Corp now owns 2,838 shares of the company’s stock worth $350,000 after buying an additional 96 shares in the last quarter. Institutional investors 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.