ARM (NASDAQ:ARM) Shares Gap Down to $104.92

Arm Holdings plc (NASDAQ:ARM)’s stock price gapped down before the market opened on Friday . The stock had previously closed at 104.92, but opened at 100.00. ARM shares last traded at 101.67, with a volume of 2,311,564 shares.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Rosenblatt Securities boosted their price target on ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, February 26th. BNP Paribas cut ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a report on Friday. Susquehanna reiterated a “neutral” rating and issued a $85.00 target price on shares of ARM in a report on Thursday, April 4th. The Goldman Sachs Group increased their price target on ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Barclays increased their price target on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. One equities 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of 90.28.

ARM Stock Down 5.6 %

The firm has a 50 day simple moving average of 129.00 and a 200 day simple moving average of 86.11.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The company had revenue of 824.00 million during the quarter, compared to analysts’ expectations of 762.50 million. ARM’s revenue was up 13.8% on a year-over-year basis. On average, equities analysts expect that Arm Holdings plc will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On ARM

A number of institutional investors and hedge funds have recently made changes to their positions in ARM. Hoey Investments Inc. bought a new stake in shares of ARM during the third quarter valued at approximately $27,000. Centerpoint Advisors LLC bought a new stake in shares of ARM during the third quarter valued at approximately $32,000. Ancora Advisors LLC bought a new stake in shares of ARM during the third quarter valued at approximately $32,000. SOA Wealth Advisors LLC. bought a new stake in shares of ARM during the first quarter valued at approximately $35,000. Finally, Bamco Inc. NY bought a new stake in shares of ARM during the third quarter valued at approximately $37,000. 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.