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

Shares of Arm Holdings plc (NASDAQ:ARM - Get Free Report) 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 trading hands.

Analysts Set New Price Targets

ARM has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on ARM from $160.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Sanford C. Bernstein cut ARM from a "market perform" rating to an "underperform" rating and set a $100.00 price target on the stock. in a report on Thursday, October 31st. Rosenblatt Securities boosted their price target on ARM from $180.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Citigroup boosted their price target on ARM from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, TD Cowen boosted their price target on ARM from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.83.

ARM Trading Down 3.2 %

The company has a 50-day simple moving average of $146.64 and a 200 day simple moving average of $140.22. The company has a market cap of $167.17 billion, a P/E ratio of 209.92, a P/E/G ratio of 7.83 and a beta of 4.57.

Hedge Funds Weigh In On ARM

Hedge funds have recently bought and sold shares of the business. GeoWealth Management LLC grew its position in 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 acquiring an additional 92 shares during the last quarter. Gilliland Jeter Wealth Management LLC lifted its holdings 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 worth $37,000 after buying an additional 117 shares during the period. Colonial Trust Co SC purchased a new stake in shares of ARM in the 4th quarter worth $40,000. Berbice Capital Management LLC purchased a new stake in shares of ARM in the 4th quarter worth $49,000. Finally, Quantbot Technologies LP purchased a new stake in shares of ARM in the 3rd quarter worth $52,000. Institutional investors own 7.53% of the company's stock.

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.