Arm Holdings PLC (ARMH) Sees Large Volume Increase
Shares of Arm Holdings PLC (NASDAQ:ARMH) saw an uptick in trading volume on Tuesday . 1,304,127 shares traded hands during trading, an increase of 10% from the previous session’s volume of 1,188,595 shares.The stock last traded at $66.48 and had previously closed at $66.16.
Several research firms have weighed in on ARMH. Zacks Investment Research upgraded shares of Arm Holdings PLC from a “sell” rating to a “hold” rating in a research note on Friday, August 19th. Pacific Crest reiterated a “hold” rating on shares of Arm Holdings PLC in a research note on Thursday, July 28th. Beaufort Securities reiterated a “hold” rating on shares of Arm Holdings PLC in a research note on Thursday, July 28th. Berenberg Bank lowered shares of Arm Holdings PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Sanford C. Bernstein upgraded shares of Arm Holdings PLC from an “underperform” rating to a “market perform” rating in a research note on Thursday, July 21st. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $52.61.
The company has a 50-day moving average price of $64.03 and a 200-day moving average price of $47.95. The stock has a market cap of $31.21 billion and a PE ratio of 67.17.
Arm Holdings PLC (NASDAQ:ARMH) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.27. The business earned $267.60 million during 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 last year, the business earned $0.07 earnings per share. Analysts expect that Arm Holdings PLC will post $36.08 EPS for the current fiscal year.
The business also recently declared a dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, September 2nd will be given a dividend of $0.116 per share. The ex-dividend date is Wednesday, August 31st.
A hedge fund recently raised its stake in Arm Holdings PLC stock. Ameriprise Financial Inc. increased its stake in Arm Holdings PLC (NASDAQ:ARMH) by 11.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,555,253 shares of the company’s stock after buying an additional 154,241 shares during the period. Ameriprise Financial Inc. owned about 0.33% of Arm Holdings PLC worth $70,366,000 as of its most recent filing with the SEC.
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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