ARM (NASDAQ:ARM) Hits New 1-Year Low – Time to Sell?

Arm Holdings plc (NASDAQ:ARM) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $84.39 and last traded at $89.81, with a volume of 3831804 shares changing hands. The stock had previously closed at $97.72.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Rosenblatt Securities raised their price objective on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley cut their price target on ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Citigroup upped their price objective on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Mizuho lifted their price objective on ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group upped their target price on shares of ARM from $159.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.41.

ARM Stock Down 10.2 %

The stock has a market cap of $91.91 billion, a PE ratio of 115.41, a price-to-earnings-growth ratio of 6.33 and a beta of 4.48. The company’s fifty day moving average is $133.89 and its 200 day moving average is $139.30.

Hedge Funds Weigh In On ARM

Several hedge funds and other institutional investors have recently made changes to their positions in ARM. GeoWealth Management LLC lifted its stake in shares of ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after purchasing an additional 92 shares in the last quarter. Colonial Trust Co SC purchased a new stake in shares of ARM during the 4th quarter valued at about $40,000. Berbice Capital Management LLC acquired a new position in ARM during the 4th quarter worth approximately $49,000. Quantbot Technologies LP purchased a new position in ARM in the 3rd quarter worth approximately $52,000. Finally, Valley National Advisers Inc. grew its position in 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 acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds 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.