On July 27, ARM Holdings declined 3.13% in regular trading, trading at $252.47/share, with turnover of $535 million.
The decline was driven by a broad semiconductor sector sell-off compounded by a wave of sell-side target price reductions ahead of the company's July 29 post-market earnings release. Wells Fargo cut its target price from $410 to $350, UBS lowered its target from $470 to $360 while maintaining a buy rating, and HSBC downgraded the stock from buy to hold with a target of $315. The concentrated downgrades have weighed on sentiment as investors adopt a wait-and-see posture into the earnings window.
Within the Semiconductors sector, stocks declined broadly. Among individual stocks, Advanced Micro Devices down 8.17%, SK hynix down 8.67%, Micron Technology down 5.86%, NVIDIA down 5.04%, Intel down 3.69%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)