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

Shares of Arm Holdings plc (NASDAQ:ARM) were down 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 traded 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.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ARM shares. Raymond James upped their price objective on ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Jefferies Financial Group upped their price objective on ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price objective on ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Loop Capital upped their target price on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, UBS Group assumed coverage on ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.23.

ARM Stock Performance

The company has a market cap of $123.55 billion, a PE ratio of 155.15, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77. The stock has a 50 day moving average of $143.70 and a 200-day moving average of $141.00.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of ARM by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company’s stock valued at $12,990,000 after buying an additional 5,440 shares during the last quarter. Modus Advisors LLC raised its stake in shares of ARM by 300.2% during the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after buying an additional 13,453 shares during the last quarter. XTX Topco Ltd raised its stake in shares of ARM by 150.1% during the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock valued at $928,000 after buying an additional 3,893 shares during the last quarter. Avalon Global Asset Management LLC purchased a new position in shares of ARM during the 3rd quarter valued at about $8,581,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of ARM by 89.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 18,457 shares of the company’s stock valued at $2,640,000 after buying an additional 8,707 shares during the last quarter. Hedge funds and other 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.