ARM (NASDAQ:ARM) Shares Gap Down to $144.17

Shares of Arm Holdings plc (NASDAQ:ARM) gapped down prior to trading on Thursday . The stock had previously closed at 144.17, but opened at 128.71. ARM shares last traded at 130.21, with a volume of 6,126,339 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARM. Susquehanna reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. Barclays upped their price objective on ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America increased their price target on ARM from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 17th. Guggenheim increased their price target on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, KeyCorp increased their price target on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of 112.08.

ARM Price Performance

The company has a 50-day moving average of 153.62 and a 200 day moving average of 126.43.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported 0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.35 by 0.05. The business had revenue of 939.00 million during the quarter, compared to the consensus estimate of 905.53 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. As a group, analysts expect that Arm Holdings plc will post 0.82 EPS for the current year.

Institutional Trading of ARM

Several institutional investors have recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC bought a new stake in shares of ARM during the first quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new stake in shares of ARM during the second quarter valued at approximately $33,000. RiverPark Advisors LLC raised its stake in shares of ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares in the last quarter. Mather Group LLC. bought a new stake in shares of ARM during the second quarter valued at approximately $41,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of ARM during the first quarter valued at approximately $35,000. Institutional investors own 7.53% of the company’s stock.

About ARM

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.