Arm Holdings PLC (NASDAQ:ARMH) shares gapped down prior to trading on Thursday . The stock had previously closed at $65.73, but opened at $66.00. Arm Holdings PLC shares last traded at $66.46, with a volume of 369,491 shares trading hands.

A number of research analysts recently issued reports on the company. Sanford C. Bernstein upgraded Arm Holdings PLC from an “underperform” rating to a “market perform” rating in a report on Thursday, July 21st. Zacks Investment Research upgraded Arm Holdings PLC from a “sell” rating to a “hold” rating in a report on Monday, June 6th. Canaccord Genuity reiterated a “buy” rating on shares of Arm Holdings PLC in a report on Sunday, June 26th. Barclays PLC reiterated an “overweight” rating on shares of Arm Holdings PLC in a report on Saturday, April 23rd. Finally, Berenberg Bank reiterated a “buy” rating on shares of Arm Holdings PLC in a report 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 issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $53.15.

The stock has a 50-day moving average of $59.63 and a 200-day moving average of $46.40. The firm has a market cap of $31.27 billion and a P/E ratio of 67.31.

Arm Holdings PLC (NASDAQ:ARMH) last posted its quarterly earnings data 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 business had revenue of $267.60 million for the quarter, compared to the consensus estimate of $393.45 million. During the same period in the prior year, the firm posted $0.07 earnings per share. Arm Holdings PLC’s revenue was up 17.1% compared to the same quarter last year. On average, equities analysts forecast that Arm Holdings PLC will post $1.49 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Arm Holdings PLC stock. Comerica Bank increased its stake in Arm Holdings PLC (NASDAQ:ARMH) by 5.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 35,512 shares of the company’s stock after buying an additional 1,933 shares during the period. Comerica Bank’s holdings in Arm Holdings PLC were worth $1,459,000 at the end of the most recent reporting period.

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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