ARM (NASDAQ:ARM) Shares Gap Down – Time to Sell?

Shares of Arm Holdings plc (NASDAQ:ARM) gapped down before the market opened on Friday . The stock had previously closed at $164.83, but opened at $160.16. ARM shares last traded at $157.39, with a volume of 2,314,030 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ARM shares. Wells Fargo & Company upped their target price on shares of ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research note on Thursday, October 31st. Rosenblatt Securities boosted their price target on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Evercore ISI boosted their price target on shares of ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two 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 company presently has an average rating of “Moderate Buy” and an average target price of $162.83.

ARM Trading Down 4.9 %

The firm’s 50 day simple moving average is $146.27 and its two-hundred day simple moving average is $140.07. The firm has a market cap of $164.29 billion, a price-to-earnings ratio of 206.19, a PEG ratio of 7.83 and a beta of 4.57.

Hedge Funds Weigh In On ARM

Several hedge funds and other institutional investors have recently made changes to their positions in ARM. ORG Partners LLC acquired a new position in shares of ARM in the 3rd quarter valued at approximately $29,000. GeoWealth Management LLC raised its position in shares of ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after buying an additional 92 shares in the last quarter. Gilliland Jeter Wealth Management LLC raised its position in shares of ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares in the last quarter. Berbice Capital Management LLC acquired a new position in shares of ARM in the 4th quarter valued at approximately $49,000. Finally, Quantbot Technologies LP acquired a new position in shares of ARM in the 3rd quarter valued at approximately $52,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Company Profile

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.