ARM (NASDAQ:ARM) Shares Gap Down – Here’s Why

Arm Holdings plc (NASDAQ:ARM) shares gapped down prior to trading on Wednesday . The stock had previously closed at $152.58, but opened at $147.80. ARM shares last traded at $146.00, with a volume of 2,007,903 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, August 1st. Raymond James assumed coverage on ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target for the company. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. William Blair started coverage on ARM in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Rosenblatt Securities restated a “buy” rating and set a $180.00 target price on shares of ARM in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.57.

ARM Stock Down 1.0 %

The company’s fifty day simple moving average is $138.71 and its 200 day simple moving average is $135.66. The stock has a market capitalization of $147.79 billion and a price-to-earnings ratio of 361.65.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business’s revenue was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. As a group, analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current year.

Institutional Trading of ARM

A number of institutional investors have recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC bought a new stake in shares of ARM in the first quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new position in shares of ARM in the second quarter worth $33,000. ORG Partners LLC acquired a new position in ARM in the third quarter valued at about $29,000. RiverPark Advisors LLC lifted its position in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the period. Finally, Mather Group LLC. acquired a new stake in ARM during the second quarter worth about $41,000. Institutional investors 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.