ARM (NASDAQ:ARM) Shares Gap Up to $112.43

Arm Holdings plc (NASDAQ:ARM) shares gapped up prior to trading on Thursday . The stock had previously closed at 112.43, but opened at 117.00. ARM shares last traded at 111.42, with a volume of 2,770,899 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ARM shares. Evercore ISI lowered their price target on ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. New Street Research reissued a “neutral” rating and issued a $110.00 target price on shares of ARM in a research note on Tuesday, February 27th. BNP Paribas downgraded ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a report on Friday, April 19th. Sanford C. Bernstein boosted their price objective on ARM from $72.00 to $92.00 and gave the stock an “underperform” rating in a research note on Thursday, May 16th. Finally, TD Cowen boosted their price target on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, ARM presently has an average rating of “Hold” and an average price target of 93.48.

ARM Price Performance

The business has a 50 day simple moving average of 115.82 and a 200 day simple moving average of 95.30.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business had revenue of 928.00 million for the quarter, compared to the consensus estimate of 865.94 million. During the same quarter last year, the firm earned $0.02 EPS. ARM’s revenue for the quarter was up 46.6% on a year-over-year basis. As a group, equities research analysts forecast that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Institutional Trading of ARM

Several large investors have recently modified their holdings of the company. Schroder Investment Management Group acquired a new stake in shares of ARM in the fourth quarter worth $480,194,000. FMR LLC acquired a new position in shares of ARM during the third quarter valued at about $242,812,000. Wellington Management Group LLP bought a new position in ARM during the third quarter valued at about $152,896,000. Invesco Ltd. bought a new stake in shares of ARM in the 3rd quarter worth approximately $143,092,000. Finally, Mubadala Investment Co PJSC acquired a new stake in shares of ARM during the 4th quarter worth approximately $150,437,000. 7.53% of the stock is owned by institutional investors.

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.