Arm Holdings PLC (NASDAQ:ARMH) shares reached a new 52-week high on Wednesday . The stock traded as high as $67.49 and last traded at $67.39, with a volume of 2,173,771 shares. The stock had previously closed at $66.70.

ARMH has been the subject of several recent analyst reports. Jefferies Group cut Arm Holdings PLC from a “buy” rating to a “hold” rating in a research note on Monday, April 18th. Goldman Sachs Group Inc. cut Arm Holdings PLC from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, June 28th. Zacks Investment Research cut Arm Holdings PLC from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. William Blair cut Arm Holdings PLC from an “outperform” rating to a “market perform” rating in a research note on Monday, July 18th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Arm Holdings PLC in a research note on Tuesday, June 21st. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have given a buy rating to the company. Arm Holdings PLC has a consensus rating of “Hold” and a consensus target price of $53.15.

The stock has a market capitalization of $31.13 billion and a P/E ratio of 66.40. The company’s 50-day moving average price is $53.26 and its 200 day moving average price is $44.72.

Arm Holdings PLC (NASDAQ:ARMH) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.27. During the same period in the prior year, the company posted $0.07 earnings per share. The business earned $267.60 million during the quarter, compared to the consensus estimate of $393.45 million. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities research analysts anticipate that Arm Holdings PLC will post $1.49 EPS for the current year.

A number of hedge funds have recently modified their holdings of ARMH. Edgewood Management LLC boosted 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 in the last quarter. Morgan Stanley boosted 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 in the last quarter. 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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. Finally, 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 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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