ARM (NASDAQ:ARM) Shares Gap Up to $108.84

Arm Holdings plc (NASDAQ:ARM - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at 108.84, but opened at 114.00. ARM shares last traded at 110.87, with a volume of 5,016,283 shares.

Analysts Set New Price Targets

Several research analysts have commented on the company. Daiwa Capital Markets downgraded ARM from a "buy" rating to a "neutral" rating and raised their target price for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. TD Cowen lifted 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. Susquehanna reiterated a "neutral" rating and set a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. JPMorgan Chase & Co. lifted 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, BNP Paribas downgraded ARM from an "outperform" rating to a "neutral" rating and set a $100.00 price target for the company. in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of 91.64.

ARM Trading Up 7.7 %

The company's 50-day moving average is 119.00 and its two-hundred day moving average is 92.06.

ARM (NASDAQ:ARM - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, topping analysts' consensus estimates of 0.30 by 0.06. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The firm's revenue was up 46.6% on a year-over-year basis. On average, research analysts forecast that Arm Holdings plc will post 0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in ARM in the 3rd quarter valued at $170,000. Commonwealth Equity Services LLC purchased a new stake in shares of ARM in the third quarter worth about $629,000. Cambridge Investment Research Advisors Inc. purchased a new position in ARM during the 3rd quarter valued at approximately $837,000. Bank of New York Mellon Corp bought a new stake in ARM in the 3rd quarter worth approximately $300,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of ARM during the 3rd quarter valued at approximately $56,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

About ARM

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.