ARM (NASDAQ:ARM) Shares Gap Up to $87.19

Shares of Arm Holdings plc (NASDAQ:ARM) gapped up prior to trading on Monday . The stock had previously closed at 87.19, but opened at 89.94. ARM shares last traded at 91.23, with a volume of 7,279,477 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TD Cowen lifted their price target on shares of ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Daiwa Capital Markets lowered shares of ARM from a “buy” rating to a “neutral” rating and lifted their price target for the company from $63.00 to $130.00 in a research note on Friday, February 16th. Barclays lifted their price objective on shares of ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. The Goldman Sachs Group lifted their price objective on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, BNP Paribas downgraded shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, ARM has a consensus rating of “Hold” and a consensus target price of 90.28.

ARM Trading Up 3.1 %

The stock’s 50-day moving average is 126.84 and its 200-day moving average is 87.41.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC bought a new position in ARM during the third quarter worth $219,000. Robeco Schweiz AG acquired a new position in ARM during the third quarter worth $35,591,000. American Century Companies Inc. acquired a new position in ARM during the third quarter worth $54,800,000. Citigroup Inc. acquired a new position in ARM during the third quarter worth $344,000. Finally, UG Investment Advisers Ltd. acquired a new position in ARM during the third quarter worth $3,568,000. 7.53% of the stock is owned by institutional investors.

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.