ARM (NASDAQ:ARM) Shares Gap Up to $158.33

Arm Holdings plc (NASDAQ:ARM) shares gapped up prior to trading on Friday . The stock had previously closed at 158.33, but opened at 162.85. ARM shares last traded at 163.17, with a volume of 1,325,507 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ARM shares. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $107.00 to $190.00 in a report on Friday. Bank of America increased their price objective on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Wells Fargo & Company increased their price objective on shares of ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of ARM in a research note on Monday, May 6th. Finally, Evercore ISI lowered their price objective on shares of ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of 109.08.

ARM Stock Performance

The business’s 50 day moving average price is 146.53 and its 200-day moving average price is 120.89.

ARM (NASDAQ:ARM) last issued 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. The business had revenue of 928.00 million during the quarter, compared to analyst estimates of 865.94 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business’s revenue was up 46.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. As a group, sell-side analysts forecast that Arm Holdings plc will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently added to or reduced their stakes in ARM. Schroder Investment Management Group acquired a new position in ARM in the fourth quarter worth $480,194,000. Mubadala Investment Co PJSC acquired a new position in shares of ARM during the fourth quarter valued at $150,437,000. Wellington Management Group LLP boosted its holdings in shares of ARM by 56.4% during the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after acquiring an additional 1,611,926 shares during the period. Robeco Schweiz AG boosted its holdings in shares of ARM by 220.3% during the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after acquiring an additional 1,465,000 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of ARM by 15.7% during the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock valued at $552,065,000 after purchasing an additional 994,551 shares in the last quarter. Institutional investors and hedge funds 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.