Arm Holdings PLC (ARMH) Sees Large Volume Increase
Arm Holdings PLC (NASDAQ:ARMH) saw unusually-strong trading volume on Tuesday . Approximately 1,304,127 shares traded hands during mid-day 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 analysts have commented on ARMH shares. Canaccord Genuity restated a “buy” rating on shares of Arm Holdings PLC in a report on Friday, June 10th. Goldman Sachs Group Inc. lowered shares of Arm Holdings PLC from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, June 28th. Numis Securities Ltd lowered shares of Arm Holdings PLC from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Berenberg Bank restated a “buy” rating on shares of Arm Holdings PLC in a report on Wednesday, July 6th. Finally, Credit Suisse Group AG lowered shares of Arm Holdings PLC from an “outperform” rating to a “neutral” rating in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $52.61.
The firm’s 50-day moving average price is $64.58 and its 200-day moving average price is $48.08. The stock has a market cap of $31.65 billion and a P/E ratio of 68.13.
Arm Holdings PLC (NASDAQ:ARMH) last posted its 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. The company had revenue of $267.60 million for the quarter, compared to the consensus estimate of $393.45 million. During the same period last year, the firm earned $0.07 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year. On average, equities analysts expect that Arm Holdings PLC will post $1.49 earnings per share for the current year.
The business also recently declared a dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 8th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 6th.
A hedge fund recently raised its stake in Arm Holdings PLC stock. Ameriprise Financial Inc. increased its position in shares of 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 approximately 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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