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

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 traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. BNP Paribas lowered shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a research report on Friday, April 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price objective on shares of ARM in a research report on Monday, May 6th. 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 report on Tuesday, June 11th. Evercore ISI reduced their target price on shares of ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, ARM currently has an average rating of “Hold” and an average price target of 99.48.

ARM Stock Performance

The company 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 quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of 865.94 million. During the same period last year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was up 46.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Arm Holdings plc will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Several hedge funds and other institutional investors have recently bought and sold shares of ARM. Cetera Advisors LLC acquired a new stake in ARM during the 1st quarter worth about $726,000. Cetera Investment Advisers acquired a new stake in ARM in the 1st quarter worth approximately $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 worth $6,376,000 after purchasing an additional 33,931 shares during the last quarter. EMC Capital Management acquired a new stake in ARM in the 1st quarter worth approximately $124,000. Finally, iA Global Asset Management Inc. grew its stake in shares of ARM by 28.2% in the first quarter. iA Global Asset Management Inc. now owns 13,944 shares of the company’s stock worth $1,743,000 after acquiring an additional 3,069 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

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.