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

Shares of Arm Holdings plc (NASDAQ:ARM) gapped down prior to trading on Thursday . The stock had previously closed at $179.93, but opened at $170.39. ARM shares last traded at $165.05, with a volume of 6,195,782 shares trading hands.

Wall Street Analyst Weigh In

ARM has been the subject of a number of analyst reports. TD Cowen lifted their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Evercore ISI boosted their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average target price of $152.09.

ARM Stock Down 2.4 %

The firm has a market capitalization of $170.29 billion, a price-to-earnings ratio of 270.87, a P/E/G ratio of 8.41 and a beta of 4.53. The stock’s fifty day moving average is $140.00 and its two-hundred day moving average is $141.03.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter last year, the company posted $0.36 earnings per share. ARM’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Arm Holdings plc will post 0.84 EPS for the current year.

Institutional Trading of ARM

Several hedge funds and other institutional investors have recently modified their holdings of ARM. Renaissance Capital LLC increased its position in ARM by 0.7% during the 4th quarter. Renaissance Capital LLC now owns 105,802 shares of the company’s stock worth $13,052,000 after buying an additional 690 shares during the period. Rheos Capital Works Inc. grew its stake in shares of ARM by 29.6% in the fourth quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock valued at $30,211,000 after acquiring an additional 56,000 shares in the last quarter. Financial Life Planners bought a new position in ARM during the fourth quarter worth about $147,000. Jennison Associates LLC increased its stake in ARM by 58.1% during the 4th quarter. Jennison Associates LLC now owns 4,535 shares of the company’s stock worth $559,000 after acquiring an additional 1,666 shares during the period. Finally, Chicago Capital LLC raised its holdings in ARM by 5.9% in the 4th quarter. Chicago Capital LLC now owns 12,304 shares of the company’s stock valued at $1,518,000 after acquiring an additional 685 shares in 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.