ARM (NASDAQ:ARM) Downgraded to Neutral at BNP Paribas

BNP Paribas downgraded shares of ARM (NASDAQ:ARM) from an outperform rating to a neutral rating in a research note released on Friday morning, MarketBeat reports. BNP Paribas currently has $100.00 price objective on the stock.

Other research analysts also recently issued reports about the company. Mizuho boosted their target price on ARM from $100.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. boosted their target price on ARM from $70.00 to $100.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Susquehanna restated a neutral rating and set a $85.00 target price on shares of ARM in a research note on Thursday, April 4th. The Goldman Sachs Group boosted their target price on ARM from $95.00 to $108.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, TD Cowen boosted their target price on ARM from $80.00 to $95.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. 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’s stock. According to MarketBeat.com, ARM currently has an average rating of Hold and a consensus target price of 90.28.

ARM Trading Down 16.9 %

Shares of NASDAQ:ARM opened at 87.19 on Friday. ARM has a 12-month low of 46.50 and a 12-month high of 164.00. The business’s fifty day simple moving average is 128.44 and its 200-day simple moving average is 86.35.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The company had revenue of 824.00 million during the quarter, compared to analysts’ expectations of 762.50 million. The company’s revenue was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that ARM will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new stake in shares of ARM in the third quarter valued at approximately $219,000. Robeco Schweiz AG purchased a new stake in shares of ARM in the third quarter valued at approximately $35,591,000. American Century Companies Inc. purchased a new stake in shares of ARM in the third quarter valued at approximately $54,800,000. Citigroup Inc. purchased a new stake in shares of ARM in the third quarter valued at approximately $344,000. Finally, UG Investment Advisers Ltd. purchased a new stake in shares of ARM in the third quarter valued at approximately $3,568,000. 7.53% of the stock is currently owned by hedge funds and other 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.