Benchmark Reaffirms “Hold” Rating for ARM (NASDAQ:ARM)

ARM (NASDAQ:ARM)‘s stock had its “hold” rating reiterated by equities research analysts at Benchmark in a report issued on Thursday,Benzinga reports.

Several other equities research analysts also recently issued reports on the stock. Mizuho boosted their price objective on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a report on Thursday, October 31st. TD Cowen boosted their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Citigroup increased their target price on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Evercore ISI boosted their price target on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Trading Down 3.0 %

Shares of ARM stock opened at $162.51 on Thursday. The business’s fifty day moving average price is $144.13 and its 200 day moving average price is $140.00. ARM has a twelve month low of $85.61 and a twelve month high of $188.75. The stock has a market capitalization of $170.28 billion, a P/E ratio of 270.85, a PEG ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. As a group, sell-side analysts predict that ARM will post 0.84 EPS for the current year.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its holdings in shares of ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares during the last quarter. International Assets Investment Management LLC increased its position in ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after buying an additional 806,676 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in ARM by 4,506.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after buying an additional 791,392 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of ARM during the fourth quarter worth about $32,655,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.