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

Arm Holdings plc (NASDAQ:ARM) shares gapped down prior to trading on Thursday . The stock had previously closed at $106.59, but opened at $98.90. ARM shares last traded at $98.76, with a volume of 2,088,553 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ARM shares. Susquehanna increased their target price on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Benchmark reiterated a “hold” rating on shares of ARM in a research report on Thursday, February 6th. JPMorgan Chase & Co. upped their target price on ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Jefferies Financial Group lifted their price target on shares of ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Raymond James upped their price objective on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ARM presently has an average rating of “Moderate Buy” and a consensus target price of $164.76.

ARM Price Performance

The firm has a market cap of $108.96 billion, a PE ratio of 136.83, a PEG ratio of 6.33 and a beta of 4.48. The business has a 50-day simple moving average of $125.98 and a 200 day simple moving average of $137.14.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently made changes to their positions in ARM. GeoWealth Management LLC grew its stake in ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after acquiring an additional 92 shares in the last quarter. Colonial Trust Co SC bought a new position in shares of ARM during the 4th quarter valued at about $40,000. Berbice Capital Management LLC purchased a new position in shares of ARM during the fourth quarter valued at about $49,000. Valley National Advisers Inc. increased its holdings in shares of ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after purchasing an additional 72 shares during the last quarter. Finally, MCF Advisors LLC bought a new position in ARM during the fourth quarter valued at approximately $83,000. Institutional investors own 7.53% of the company’s stock.

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.