ARM (NASDAQ:ARM) Shares Gap Down to $113.89

Arm Holdings plc (NASDAQ:ARMGet Free Report) gapped down before the market opened on Friday . The stock had previously closed at 113.89, but opened at 105.99. ARM shares last traded at 110.06, with a volume of 13,334,451 shares.

Analysts Set New Price Targets

A number of research firms have issued reports on ARM. Deutsche Bank Aktiengesellschaft downgraded ARM from a “buy” rating to a “hold” rating and raised their target price for the stock from $60.00 to $70.00 in a research report on Monday, December 18th. Wells Fargo & Company began coverage on ARM in a research report on Monday, November 20th. They issued an “overweight” rating and a $70.00 target price for the company. The Goldman Sachs Group raised their target price on ARM from $65.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on ARM from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, KeyCorp raised their target price on ARM from $75.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of 75.73.

View Our Latest Analysis on ARM

ARM Stock Up 1.2 %

The business’s 50 day simple moving average is 72.47.

ARM (NASDAQ:ARMGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to the consensus estimate of 762.50 million. ARM’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts anticipate that Arm Holdings plc will post 1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Several large investors have recently added to or reduced their stakes in the business. Robeco Schweiz AG purchased a new position in shares of ARM in the 3rd quarter worth about $35,591,000. UG Investment Advisers Ltd. purchased a new position in shares of ARM in the 3rd quarter worth about $3,568,000. OPTIMAS CAPITAL Ltd purchased a new position in shares of ARM in the 3rd quarter worth about $1,937,000. AMF Tjanstepension AB purchased a new position in shares of ARM in the 3rd quarter worth about $4,014,000. Finally, Longitude Cayman Ltd. purchased a new position in shares of ARM in the 3rd quarter worth about $1,124,000.

About ARM

(Get Free Report)

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.

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