ARM (NASDAQ:ARM) Shares Gap Down – Should You Sell?

Arm Holdings plc (NASDAQ:ARM)’s share price 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.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays lifted their target price on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Evercore ISI upped their price objective on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup boosted their target price on shares of ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Sanford C. Bernstein cut 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. Finally, Benchmark reaffirmed a “hold” rating on shares of ARM in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and a consensus target price of $162.83.

ARM Price Performance

The stock has a 50-day moving average of $146.64 and a 200-day moving average of $140.24. The firm has a market cap of $167.17 billion, a price-to-earnings ratio of 209.92, a P/E/G ratio of 7.83 and a beta of 4.57.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ARM. Creative Planning increased its stake in ARM by 20.2% in the third quarter. Creative Planning now owns 37,982 shares of the company’s stock valued at $5,432,000 after acquiring an additional 6,381 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of ARM by 42.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 26,102 shares of the company’s stock valued at $3,733,000 after purchasing an additional 7,790 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of ARM by 8.5% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 4,299 shares of the company’s stock worth $615,000 after buying an additional 335 shares during the last quarter. Good Life Advisors LLC boosted its stake in ARM by 34.1% in the third quarter. Good Life Advisors LLC now owns 4,090 shares of the company’s stock valued at $585,000 after buying an additional 1,039 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in ARM by 72.5% in the third quarter. Global Retirement Partners LLC now owns 3,478 shares of the company’s stock valued at $497,000 after acquiring an additional 1,462 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

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.