Arm Holdings PLC (NASDAQ:ARMH) shares gapped up prior to trading on Tuesday . The stock had previously closed at $64.78, but opened at $65.07. Arm Holdings PLC shares last traded at $65.88, with a volume of 872,104 shares trading hands.

ARMH has been the topic of a number of research analyst reports. Beaufort Securities reissued a “buy” rating on shares of Arm Holdings PLC in a research note on Thursday, May 19th. Zacks Investment Research raised Arm Holdings PLC from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, June 14th. Canaccord Genuity reissued a “buy” rating on shares of Arm Holdings PLC in a research note on Friday, June 10th. 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. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of Arm Holdings PLC in a research note on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $53.15.

The firm’s 50-day moving average price is $58.32 and its 200 day moving average price is $46.11. The firm has a market capitalization of $30.92 billion and a price-to-earnings ratio of 66.56.

Arm Holdings PLC (NASDAQ:ARMH) last posted its earnings results on Wednesday, July 27th. The company reported $0.09 earnings per share 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 analysts’ expectations of $393.45 million. The firm’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 EPS. On average, analysts expect that Arm Holdings PLC will post $1.49 EPS for the current fiscal year.

Other institutional investors have recently modified their holdings of the company. Edgewood Management LLC increased its position 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 valued at $632,934,000 after buying an additional 671,614 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 valued at $10,571,000 after buying an additional 10,443 shares during the last quarter. Morgan Stanley increased its position 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 valued at $18,857,000 after buying an additional 231,498 shares during the last quarter. Finally, Comerica Bank increased its position 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 valued at $1,459,000 after buying an additional 1,933 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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