ARM (NASDAQ:ARM) Shares Gap Down to $178.77

Shares of Arm Holdings plc (NASDAQ:ARM) gapped down before the market opened on Wednesday . The stock had previously closed at 178.77, but opened at 169.98. ARM shares last traded at 170.31, with a volume of 2,202,595 shares.

Analysts Set New Price Targets

ARM has been the topic of several research reports. BNP Paribas lowered ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a report on Friday, April 19th. Sanford C. Bernstein upped their target price on ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a report on Thursday, May 16th. Susquehanna reissued a “neutral” rating and issued a $85.00 target price on shares of ARM in a report on Thursday, April 4th. Evercore ISI lowered their target price on ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, Bank of America lifted their price objective on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of 103.68.

ARM Stock Performance

The stock has a 50-day moving average of 144.33 and a 200-day moving average of 120.34.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, topping 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 company had revenue of 928.00 million during the quarter, compared to analyst estimates of 865.94 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The firm’s quarterly revenue was up 46.6% on a year-over-year basis. Equities analysts forecast that Arm Holdings plc will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of ARM

Several institutional investors have recently modified their holdings of ARM. Citigroup Inc. acquired a new stake in shares of ARM in the third quarter valued at $344,000. SG Americas Securities LLC raised its position in shares of ARM by 72.6% during the fourth quarter. SG Americas Securities LLC now owns 5,494 shares of the company’s stock worth $413,000 after purchasing an additional 2,311 shares during the period. FNY Investment Advisers LLC raised its position in shares of ARM by 494.2% during the fourth quarter. FNY Investment Advisers LLC now owns 1,634 shares of the company’s stock worth $122,000 after purchasing an additional 1,359 shares during the period. Compagnie Lombard Odier SCmA raised its position in shares of ARM by 110.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 4,200 shares of the company’s stock worth $316,000 after purchasing an additional 2,200 shares during the period. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in shares of ARM during the fourth quarter worth $105,000. Institutional investors and hedge funds 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.