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

Arm Holdings plc (NASDAQ:ARM) 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 trading hands.

Several other equities research analysts also recently weighed in on ARM. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Morgan Stanley decreased their price objective on ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Evercore ISI boosted their target price on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Loop Capital upped their price target on ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, Benchmark reiterated a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and a consensus target price of $163.05.

Hedge Funds Weigh In On ARM

Several hedge funds have recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership lifted its holdings in shares of ARM by 48.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock valued at $327,088,000 after purchasing an additional 860,716 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in ARM by 4,506.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after buying an additional 791,392 shares in the last quarter. Schroder Investment Management Group lifted its stake in ARM by 17.9% in the 4th quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock valued at $376,782,000 after buying an additional 464,719 shares in the last quarter. Marshall Wace LLP acquired a new stake in ARM during the 4th quarter valued at $51,901,000. Finally, Banque Transatlantique SA purchased a new position in ARM during the fourth quarter worth $37,440,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Price Performance

The firm has a market capitalization of $105.55 billion, a PE ratio of 132.54, a P/E/G ratio of 6.33 and a beta of 4.48. The company has a 50-day moving average price of $120.91 and a 200-day moving average price of $136.01.

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.