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

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.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARM. Guggenheim increased their price objective on shares of ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Bank of America upped their price target on ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. The Goldman Sachs Group upped their target price on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Sanford C. Bernstein boosted their price target on shares of ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a report on Thursday, May 16th. Finally, HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of 118.80.

ARM Price Performance

The business has a 50-day simple moving average of 153.78 and a two-hundred day simple moving average of 126.70. The stock has a market cap of $118.88 billion and a price-to-earnings ratio of 129.27.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported 0.40 earnings per share for the quarter, beating analysts’ consensus estimates of 0.35 by 0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business had revenue of 939.00 million for the quarter, compared to analysts’ expectations of 905.53 million. During the same quarter in the prior year, the business earned $0.24 EPS. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. As a group, equities analysts anticipate that Arm Holdings plc will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

A number of institutional investors have recently made changes to their positions in ARM. Mark Sheptoff Financial Planning LLC bought a new position in ARM during the first quarter worth about $25,000. Transcendent Capital Group LLC bought a new stake in shares of ARM in the second quarter valued at approximately $33,000. RiverPark Advisors LLC grew its position in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares in the last quarter. Mather Group LLC. bought a new position in ARM during the 2nd quarter worth $41,000. Finally, SOA Wealth Advisors LLC. acquired a new position in ARM in the 1st quarter valued at $35,000. 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.