ARM (NASDAQ:ARM) Shares Gap Down on Analyst Downgrade

Arm Holdings plc (NASDAQ:ARM - Get Free Report) shares gapped down prior to trading on Wednesday after Bank of America lowered their price target on the stock from $180.00 to $144.00. The stock had previously closed at $103.80, but opened at $98.00. Bank of America currently has a buy rating on the stock. ARM shares last traded at $101.36, with a volume of 845,669 shares.

ARM has been the topic of a number of other research reports. Mizuho increased their price objective on ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Benchmark reaffirmed a "hold" rating on shares of ARM in a research note on Thursday, February 6th. Barclays upped their price objective on shares of ARM from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their price target on ARM from $159.00 to $174.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Susquehanna increased their price objective on ARM from $118.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.05.

Hedge Funds Weigh In On ARM

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of ARM by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company's stock valued at $12,990,000 after buying an additional 5,440 shares during the last quarter. Modus Advisors LLC increased its holdings in ARM by 300.2% during the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company's stock worth $2,212,000 after purchasing an additional 13,453 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company's stock worth $183,265,000 after purchasing an additional 228,467 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of ARM by 333.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,884 shares of the company's stock valued at $849,000 after purchasing an additional 5,297 shares in the last quarter. Finally, Capital Market Strategies LLC purchased a new position in shares of ARM during the fourth quarter valued at approximately $694,000. 7.53% of the stock is currently owned by institutional investors.

ARM Price Performance

The company has a fifty day moving average of $119.77 and a 200-day moving average of $135.76. The firm has a market cap of $105.55 billion, a P/E ratio of 132.54, a P/E/G ratio of 6.33 and a beta of 4.48.

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.