Arm Holdings PLC (NASDAQ:ARMH) gapped up prior to trading on Tuesday . The stock had previously closed at $65.82, but opened at $66.12. Arm Holdings PLC shares last traded at $66.75, with a volume of 3,619,990 shares.

A number of equities research analysts have issued reports on ARMH shares. Beaufort Securities reiterated a “buy” rating on shares of Arm Holdings PLC in a research note on Thursday, May 19th. Zacks Investment Research upgraded Arm Holdings PLC from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Tuesday, June 14th. Canaccord Genuity reiterated a “buy” rating on shares of Arm Holdings PLC in a research note on Friday, June 10th. Goldman Sachs Group Inc. lowered Arm Holdings PLC from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, June 28th. Finally, Berenberg Bank reiterated a “buy” rating on shares of Arm Holdings PLC in a research note on Wednesday, July 6th. Two investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $53.15.

The company has a market cap of $31.30 billion and a price-to-earnings ratio of 66.97. The company has a 50-day moving average price of $51.80 and a 200 day moving average price of $44.39.

Arm Holdings PLC (NASDAQ:ARMH) last released its earnings results on Wednesday, July 27th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.27. The firm had revenue of $267.60 million for the quarter, compared to analyst estimates of $393.45 million. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 earnings per share. On average, equities research analysts anticipate that Arm Holdings PLC will post $1.50 EPS for the current year.

Several hedge funds recently added to or reduced their stakes in ARMH. Comerica Bank boosted its stake in 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 in the last quarter. US Bancorp DE boosted its stake in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in Arm Holdings PLC by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 233,657 shares of the company’s stock worth $10,571,000 after buying an additional 10,443 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Arm Holdings PLC by 0.6% in the fourth quarter. Wells Fargo & Company MN now owns 3,534,829 shares of the company’s stock worth $159,916,000 after buying an additional 20,111 shares in the last quarter. Finally, Morgan Stanley boosted its stake in 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 in 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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