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

Arm Holdings plc (NASDAQ:ARM)’s share 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 Analyst Weigh In

ARM has been the topic of several recent research reports. Evercore ISI upped their price target on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. TD Cowen upgraded ARM to a “strong-buy” rating in a research note on Monday, September 16th. Benchmark initiated coverage on ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft upped their price objective on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average price target of $138.57.

ARM Price Performance

The stock’s fifty day moving average price is $140.91 and its 200-day moving average price is $136.58. The firm has a market cap of $148.25 billion and a PE ratio of 362.78.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. On average, sell-side analysts anticipate that Arm Holdings plc will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. KP Management LLC raised its position in shares of ARM by 28.6% during the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after buying an additional 10,000 shares during the period. Willner & Heller LLC raised its position in ARM by 193.7% in the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after purchasing an additional 4,484 shares during the period. Lazard Asset Management LLC lifted its stake in shares of ARM by 393.0% in the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after purchasing an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. grew its holdings in shares of ARM by 156.3% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after purchasing an additional 11,220 shares during the period. Finally, Vontobel Holding Ltd. increased its position in shares of ARM by 42.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 26,102 shares of the company’s stock worth $3,733,000 after purchasing an additional 7,790 shares during the last quarter. Hedge funds and other 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.