Arm Holdings PLC (NASDAQ:ARMH) shares shot up 40.6% on Monday . The stock traded as high as $67.48 and last traded at $66.21, with a volume of 26,018,840 shares traded. The stock had previously closed at $47.08.

Several research firms have recently weighed in on ARMH. Zacks Investment Research cut Arm Holdings PLC from a “hold” rating to a “sell” rating in a research report on Monday, May 2nd. Canaccord Genuity reaffirmed a “buy” rating on shares of Arm Holdings PLC in a research report on Sunday, June 26th. Beaufort Securities reaffirmed a “buy” rating on shares of Arm Holdings PLC in a research report on Saturday, April 23rd. Barclays PLC reaffirmed an “overweight” rating on shares of Arm Holdings PLC in a research report on Saturday, April 23rd. Finally, Benchmark Co. cut Arm Holdings PLC from a “buy” rating to a “hold” rating and set a $67.21 price objective for the company. in a research report on Monday. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $53.15.

The stock has a market cap of $30.62 billion and a P/E ratio of 67.17. The firm’s 50 day moving average is $45.10 and its 200-day moving average is $42.63.

Arm Holdings PLC (NASDAQ:ARMH) last posted its quarterly earnings data on Wednesday, April 20th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm earned $398 million during the quarter, compared to analysts’ expectations of $397.51 million. Arm Holdings PLC’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS. On average, analysts forecast that Arm Holdings PLC will post $1.50 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of ARMH. RidgeWorth Capital Management LLC increased its position in Arm Holdings PLC by 0.4% in the fourth quarter. RidgeWorth Capital Management LLC now owns 216,276 shares of the company’s stock valued at $9,784,000 after buying an additional 814 shares during the last quarter. Hansberger Growth Investors LP boosted its stake in shares of Arm Holdings PLC by 2.8% in the fourth quarter. Hansberger Growth Investors LP now owns 50,457 shares of the company’s stock worth $2,283,000 after buying an additional 1,386 shares during the last quarter. Azimuth Capital Management LLC boosted its stake in shares of Arm Holdings PLC by 2.1% in the fourth quarter. Azimuth Capital Management LLC now owns 70,070 shares of the company’s stock worth $3,170,000 after buying an additional 1,470 shares during the last quarter. Comerica Bank boosted its stake in shares of Arm Holdings PLC by 5.8% in the fourth quarter. Comerica Bank now owns 35,512 shares of the company’s stock worth $1,459,000 after buying an additional 1,933 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Arm Holdings PLC by 2.2% in the fourth quarter. US Bancorp DE now owns 293,682 shares of the company’s stock worth $13,287,000 after buying an additional 6,272 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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