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

Shares of Arm Holdings plc (NASDAQ:ARM) gapped down before the market opened on Thursday . The stock had previously closed at $173.26, but opened at $162.00. ARM shares last traded at $165.79, with a volume of 2,917,892 shares trading hands.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays raised their target price on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Loop Capital raised their price target on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Susquehanna increased their target price on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Jefferies Financial Group upped their price target on ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Citigroup upped their target price on shares of ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $162.17.

ARM Stock Performance

The firm’s 50-day simple moving average is $143.45 and its two-hundred day simple moving average is $139.80. The stock has a market cap of $174.67 billion, a price-to-earnings ratio of 279.11, a PEG ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. Equities research analysts expect that Arm Holdings plc will post 0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its holdings in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the period. International Assets Investment Management LLC increased its position in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares during the period. Rheos Capital Works Inc. lifted its holdings in ARM by 29.6% during the fourth quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock worth $30,211,000 after acquiring an additional 56,000 shares in the last quarter. Finally, State Street Corp grew its stake in ARM by 19.2% in the third quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after acquiring an additional 35,720 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.