ARM (NASDAQ:ARM) Shares Gap Down - What's Next?

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s share price gapped down before the market opened 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.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on ARM from $160.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Benchmark restated a "hold" rating on shares of ARM in a report on Thursday, February 6th. Citigroup lifted their price objective on shares of ARM from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a research report on Thursday, February 6th. Finally, Rosenblatt Securities boosted their price target on ARM from $180.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $164.76.

ARM Trading Up 1.0 %

The stock has a market capitalization of $110.09 billion, a price-to-earnings ratio of 138.24, a price-to-earnings-growth ratio of 6.33 and a beta of 4.48. The firm's 50 day simple moving average is $125.98 and its 200-day simple moving average is $137.06.

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Institutional Trading of ARM

Several hedge funds have recently added to or reduced their stakes in the company. Tufton Capital Management increased its position in shares of ARM by 1.5% in the fourth quarter. Tufton Capital Management now owns 4,425 shares of the company's stock worth $546,000 after purchasing an additional 65 shares during the period. Valley National Advisers Inc. increased its stake in shares of ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company's stock valued at $75,000 after buying an additional 72 shares during the period. Zullo Investment Group Inc. lifted its holdings in shares of ARM by 4.6% during the fourth quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company's stock worth $236,000 after purchasing an additional 85 shares during the period. GeoWealth Management LLC grew 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 during the last quarter. Finally, Cibc World Markets Corp boosted its stake in shares of ARM by 3.5% in the 4th quarter. Cibc World Markets Corp now owns 2,838 shares of the company's stock valued at $350,000 after purchasing an additional 96 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

About ARM

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.