ARM (NASDAQ:ARM) Shares Gap Down to $104.92

Arm Holdings plc (NASDAQ:ARM) gapped down prior to trading on Friday . The stock had previously closed at 104.92, but opened at 100.00. ARM shares last traded at 101.67, with a volume of 2,311,564 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ARM shares. KeyCorp upped their target price on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Daiwa Capital Markets downgraded ARM from a “buy” rating to a “neutral” rating and upped their target price for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. Rosenblatt Securities upped their target price on ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Susquehanna reaffirmed a “neutral” rating and set a $85.00 target price on shares of ARM in a research note on Thursday, April 4th. Finally, BNP Paribas downgraded ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research note on Friday. One 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 data from MarketBeat, ARM has an average rating of “Hold” and a consensus price target of 90.28.

ARM Trading Down 5.6 %

The business has a 50-day moving average of 129.00 and a 200-day moving average of 86.11.

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

Hedge Funds Weigh In On ARM

A number of institutional investors and hedge funds have recently made changes to their positions in ARM. Vontobel Holding Ltd. acquired a new position in shares of ARM during the third quarter worth about $581,000. SG Americas Securities LLC purchased a new stake in ARM during the third quarter worth approximately $170,000. Cedar Brook Financial Partners LLC purchased a new stake in ARM during the third quarter worth approximately $206,000. Newbridge Financial Services Group Inc. purchased a new stake in ARM during the third quarter worth approximately $114,000. Finally, Rheos Capital Works Inc. purchased a new stake in ARM during the third quarter worth approximately $4,817,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.