ARM (NASDAQ:ARM) Earns Hold Rating from Analysts at Benchmark

by · The Markets Daily

Benchmark initiated coverage on shares of ARM (NASDAQ:ARM – Free Report) in a report released on Monday morning, MarketBeat Ratings reports. The firm issued a hold rating on the stock.

Several other equities analysts have also weighed in on the stock. Hsbc Global Res upgraded shares of ARM to a moderate sell rating in a research report on Monday, July 29th. Daiwa Capital Markets raised ARM from a neutral rating to an outperform rating and set a $130.00 price target on the stock in a report on Thursday, August 8th. Guggenheim raised their price objective on ARM from $110.00 to $169.00 and gave the stock a buy rating in a research note on Tuesday, June 25th. Evercore ISI boosted their target price on ARM from $145.00 to $173.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Finally, Raymond James started coverage on ARM in a research report on Friday, September 13th. They issued an outperform rating and a $160.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $125.96.

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ARM Price Performance

Shares of NASDAQ:ARM opened at $140.59 on Monday. The stock’s 50 day moving average price is $136.41 and its 200 day moving average price is $132.85. The stock has a market cap of $147.32 billion and a price-to-earnings ratio of 148.06. ARM has a 12 month low of $46.50 and a 12 month high of $188.75.

ARM (NASDAQ:ARM – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s quarterly revenue was up 39.1% compared to the same quarter last year. On average, sell-side analysts expect that ARM will post 0.82 EPS for the current year.

Institutional Investors Weigh In On ARM

A number of large investors have recently bought and sold shares of the business. Lazard Asset Management LLC grew its holdings in ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after purchasing an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its holdings in ARM by 156.3% during the second quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after acquiring an additional 11,220 shares during the period. Rheos Capital Works Inc. grew its position in shares of ARM by 48.1% in the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after purchasing an additional 83,400 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of ARM in the first quarter worth about $222,000. Finally, Prudential PLC lifted its position in shares of ARM by 38.1% during the 2nd quarter. Prudential PLC now owns 108,653 shares of the company’s stock worth $17,778,000 after purchasing an additional 29,992 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

About ARM

(Get Free Report)

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.

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