ARM (NASDAQ:ARM) Shares Gap Down to $145.58

Arm Holdings plc (NASDAQ:ARM) shares gapped down before the market opened on Monday . The stock had previously closed at $145.58, but opened at $140.96. ARM shares last traded at $143.70, with a volume of 1,021,393 shares changing hands.

Analysts Set New Price Targets

Several research firms recently issued reports on ARM. TD Cowen raised ARM to a “strong-buy” rating in a research report on Monday, September 16th. Evercore ISI increased their price objective on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $107.00 to $190.00 in a report on Friday, July 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their price objective 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.96.

ARM Stock Down 1.7 %

The stock has a market capitalization of $149.96 billion and a price-to-earnings ratio of 158.68. The business’s 50-day moving average is $133.29 and its two-hundred day moving average is $133.29.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. As a group, analysts forecast that Arm Holdings plc will post 0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Hedge funds have recently modified their holdings of the company. Centaurus Financial Inc. purchased a new stake in shares of ARM during the 2nd quarter valued at approximately $223,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ARM in the second quarter valued at $1,776,000. Sanctuary Advisors LLC acquired a new position in shares of ARM in the 2nd quarter valued at $737,000. NCP Inc. grew its holdings in shares of ARM by 464.5% during the 2nd quarter. NCP Inc. now owns 35,000 shares of the company’s stock worth $5,727,000 after purchasing an additional 28,800 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of ARM during the 2nd quarter worth $387,000. Hedge funds and other 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.