Arm Holdings PLC (NASDAQ:ARMH) shares gapped up before the market opened 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 traded.

ARMH has been the subject of several recent research reports. Barclays PLC reaffirmed an “overweight” rating on shares of Arm Holdings PLC in a research report on Saturday, April 23rd. Beaufort Securities reiterated a “buy” rating on shares of Arm Holdings PLC in a report on Saturday, April 23rd. Zacks Investment Research lowered Arm Holdings PLC from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. Deutsche Bank AG reiterated a “hold” rating on shares of Arm Holdings PLC in a report on Friday, May 20th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Arm Holdings PLC in a report on Friday, June 10th. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $53.15.

The firm has a 50-day moving average price of $58.99 and a 200 day moving average price of $46.25. The stock has a market cap of $31.15 billion and a P/E ratio of 67.05.

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

An institutional investor recently raised its position in Arm Holdings PLC stock. Comerica Bank increased its position in shares of Arm Holdings PLC (NASDAQ:ARMH) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 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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