ARM (NASDAQ:ARM) Shares Gap Up to $87.19

Arm Holdings plc (NASDAQ:ARM - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at 87.19, but opened at 89.94. ARM shares last traded at 91.23, with a volume of 7,279,477 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. KeyCorp raised their target price on ARM from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, April 8th. Mizuho raised their price target on ARM from $100.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, March 7th. TD Cowen raised their price target on ARM from $80.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. raised their price target on ARM from $70.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, February 8th. Finally, Barclays raised their price target on ARM from $65.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of 90.28.

ARM Stock Performance

The stock has a 50 day moving average of 127.32 and a 200 day moving average of 87.12.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, topping analysts' consensus estimates of 0.25 by 0.04. The company had revenue of 824.00 million for the quarter, compared to the consensus estimate of 762.50 million. The business's quarterly revenue was up 13.8% on a year-over-year basis. On average, analysts anticipate that Arm Holdings plc will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in ARM by 15.7% during the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company's stock worth $552,065,000 after acquiring an additional 994,551 shares during the period. Schroder Investment Management Group acquired a new position in ARM during the 4th quarter worth $480,194,000. FMR LLC acquired a new position in ARM during the 3rd quarter worth $242,812,000. Wellington Management Group LLP boosted its position in ARM by 56.4% during the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company's stock worth $335,802,000 after acquiring an additional 1,611,926 shares during the period. Finally, Invesco Ltd. acquired a new stake in shares of ARM in the third quarter valued at $143,092,000. 7.53% of the stock is currently owned by institutional investors.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.