ARM (NASDAQ:ARM) Stock Price Down 2.8% – Time to Sell?

Arm Holdings plc (NASDAQ:ARM) shares were down 2.8% during mid-day trading on Tuesday . The company traded as low as $133.16 and last traded at $136.60. Approximately 2,067,386 shares changed hands during trading, a decline of 68% from the average daily volume of 6,450,238 shares. The stock had previously closed at $140.53.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARM shares. Barclays raised their price target on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Evercore ISI lifted their target price on shares of ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. boosted their target price on shares of ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Susquehanna raised their price target on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price objective on shares of ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.83.

ARM Price Performance

The company’s 50 day simple moving average is $147.56 and its 200 day simple moving average is $141.81. The stock has a market cap of $145.26 billion, a P/E ratio of 181.71, a P/E/G ratio of 6.33 and a beta of 4.56.

Institutional Investors Weigh In On ARM

Several large investors have recently modified their holdings of ARM. Tufton Capital Management grew its position in shares of ARM by 1.5% in the 4th 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 stake in 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 buying an additional 72 shares in the last quarter. Zullo Investment Group Inc. boosted its holdings 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 buying an additional 85 shares during the period. GeoWealth Management LLC increased its position in shares of ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after acquiring an additional 92 shares in the last quarter. Finally, Cibc World Markets Corp raised its holdings in shares of ARM by 3.5% during the fourth quarter. Cibc World Markets Corp now owns 2,838 shares of the company’s stock worth $350,000 after acquiring an additional 96 shares during the period. 7.53% of the stock is currently owned by institutional investors.

ARM Company Profile

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.