ARM (NASDAQ:ARM) Shares Gap Down to $160.77

Shares of Arm Holdings plc (NASDAQ:ARM) gapped down before the market opened on Friday . The stock had previously closed at 160.77, but opened at 156.21. ARM shares last traded at 156.45, with a volume of 1,897,653 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on ARM. The Goldman Sachs Group increased their price target on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Bank of America increased their price target on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Mizuho increased their price target on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, May 9th. Finally, Susquehanna restated a “neutral” rating and set a $85.00 price objective on shares of ARM in a report on Thursday, April 4th. 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 MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of 99.48.

ARM Stock Performance

The business has a 50-day moving average price of 121.05 and a 200-day moving average price of 107.89.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new position in ARM in the 1st quarter valued at $726,000. Cetera Investment Advisers purchased a new position in ARM in the 1st quarter valued at $3,425,000. Virtu Financial LLC lifted its holdings in ARM by 198.6% in the 1st quarter. Virtu Financial LLC now owns 51,016 shares of the company’s stock valued at $6,376,000 after purchasing an additional 33,931 shares in the last quarter. EMC Capital Management purchased a new position in ARM in the 1st quarter valued at $124,000. Finally, iA Global Asset Management Inc. lifted its holdings in ARM by 28.2% in the 1st quarter. iA Global Asset Management Inc. now owns 13,944 shares of the company’s stock valued at $1,743,000 after purchasing an additional 3,069 shares in the last quarter. Hedge funds and other 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.