ARM Holdings plc (NASDAQ:ARMH)’s share price gapped up before the market opened on Friday . The stock had previously closed at $43.29, but opened at $43.78. ARM Holdings plc shares last traded at $45.31, with a volume of 1,059,686 shares traded.

Several brokerages recently commented on ARMH. Canaccord Genuity reissued a “buy” rating on shares of ARM Holdings plc in a research report on Friday, June 10th. Goldman Sachs Group Inc. cut shares of ARM Holdings plc from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, June 28th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of ARM Holdings plc in a research report on Tuesday, June 21st. Pacific Crest reissued an “overweight” rating on shares of ARM Holdings plc in a research report on Tuesday, March 15th. Finally, Zacks Investment Research raised shares of ARM Holdings plc from a “sell” rating to a “hold” rating in a research report on Monday, June 6th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. ARM Holdings plc presently has an average rating of “Hold” and a consensus target price of $50.38.

The stock has a 50-day moving average of $43.14 and a 200-day moving average of $42.32. The company has a market cap of $21.29 billion and a price-to-earnings ratio of 46.71.

ARM Holdings plc (NASDAQ:ARMH) last posted its quarterly earnings data on Wednesday, April 20th. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company had revenue of $398 million for the quarter, compared to analysts’ expectations of $397.51 million. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. Equities research analysts anticipate that ARM Holdings plc will post $1.52 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in ARMH. Edgewood Management LLC raised its stake in shares of ARM Holdings plc by 5.0% in the fourth quarter. Edgewood Management LLC now owns 13,990,591 shares of the company’s stock worth $632,934,000 after buying an additional 671,614 shares during the last quarter. WCM Investment Management CA raised its stake in shares of ARM Holdings plc by 8.4% in the fourth quarter. WCM Investment Management CA now owns 7,090,386 shares of the company’s stock worth $320,769,000 after buying an additional 551,451 shares during the last quarter. Morgan Stanley raised its stake in shares of ARM Holdings plc by 124.9% in the fourth quarter. Morgan Stanley now owns 416,810 shares of the company’s stock worth $18,857,000 after buying an additional 231,498 shares during the last quarter. Telemark Asset Management LLC raised its stake in shares of ARM Holdings plc by 12.5% in the fourth quarter. Telemark Asset Management LLC now owns 450,000 shares of the company’s stock worth $20,358,000 after buying an additional 50,000 shares during the last quarter. Finally, Sawtooth Asset Management Inc. raised its stake in shares of ARM Holdings plc by 6,053.8% in the fourth quarter. Sawtooth Asset Management Inc. now owns 35,200 shares of the company’s stock worth $1,592,000 after buying an additional 34,628 shares during the last quarter.

ARM Holdings plc (ARM) is a company engaged in designing a range of inter-related intellectual property (IP), including microprocessors, Physical IP, and supporting software and tools. Its product offering includes 16/32/64-bit reduced instruction set computing (RISC) microprocessors, data engines, graphics processors, digital libraries, embedded memories, peripherals, software and development tools, as well as analog functions and high-speed connectivity products.

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