Arm Holdings plc (NASDAQ:ARM – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at 132.96, but opened at 143.41. ARM shares last traded at 141.80, with a volume of 2,154,804 shares traded.
Analyst Ratings Changes
A number of brokerages have weighed in on ARM. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research note on Monday. Susquehanna reaffirmed a “neutral” rating and issued a $85.00 price target on shares of ARM in a research note on Thursday, April 4th. KeyCorp increased their price objective on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $107.00 to $190.00 in a report on Friday, July 19th. Finally, Evercore ISI cut their price objective on ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of 109.08.
ARM Stock Performance
The stock has a 50-day simple moving average of 152.99 and a two-hundred day simple moving average of 126.30.
ARM (NASDAQ:ARM – Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 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 business had revenue of 928.00 million during the quarter, compared to analyst estimates of 865.94 million. ARM’s quarterly revenue was up 46.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.02 EPS. As a group, equities research analysts forecast that Arm Holdings plc will post 0.81 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Jennison Associates LLC grew its stake in shares of ARM by 15.7% in the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after buying an additional 994,551 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of ARM during the fourth quarter valued at $480,194,000. Wellington Management Group LLP raised its position in shares of ARM by 56.4% in the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after purchasing an additional 1,611,926 shares during the last quarter. Robeco Schweiz AG boosted its stake in ARM by 220.3% in the 4th quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after purchasing an additional 1,465,000 shares in the last quarter. Finally, Mubadala Investment Co PJSC purchased a new stake in ARM during the 4th quarter valued at about $150,437,000. 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.