ARM (NASDAQ:ARM) Shares Gap Down – What’s Next?

Arm Holdings plc (NASDAQ:ARM)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $154.40, but opened at $145.26. ARM shares last traded at $145.25, with a volume of 1,471,857 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ARM shares. Citigroup boosted their price objective on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Barclays upped their price objective on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ARM has an average rating of “Moderate Buy” and an average price target of $138.57.

ARM Trading Up 0.1 %

The company has a fifty day moving average price of $140.91 and a two-hundred day moving average price of $136.58. The firm has a market capitalization of $148.25 billion and a PE ratio of 362.78.

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

Institutional Investors Weigh In On ARM

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in shares of ARM by 47.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock worth $115,000 after purchasing an additional 494 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of ARM by 83.4% in the first quarter. Private Advisor Group LLC now owns 5,509 shares of the company’s stock valued at $689,000 after acquiring an additional 2,505 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in ARM during the first quarter worth about $420,000. Mission Wealth Management LP acquired a new stake in ARM in the first quarter valued at about $223,000. Finally, BNP Paribas purchased a new stake in ARM in the 1st quarter valued at approximately $87,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.