ARM (NASDAQ:ARM) Earns “Hold” Rating from Benchmark

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

Several other equities research analysts have also recently weighed in on the company. Rosenblatt Securities boosted their target price on ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group assumed coverage on ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday. Finally, Mizuho boosted their price objective on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.17.

ARM Stock Performance

Shares of ARM traded down $6.48 during midday trading on Thursday, hitting $166.78. The company had a trading volume of 9,724,404 shares, compared to its average volume of 7,157,057. The company’s 50-day simple moving average is $143.45 and its 200-day simple moving average is $139.80. The firm has a market capitalization of $174.75 billion, a P/E ratio of 278.77, a P/E/G ratio of 7.46 and a beta of 4.56. ARM has a 1 year low of $72.25 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. Equities analysts predict that ARM will post 0.84 earnings per share for the current fiscal year.

Institutional Trading of ARM

Institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Partners LLC purchased a new stake in shares of ARM in the third quarter valued at $29,000. Gilliland Jeter Wealth Management LLC lifted its position in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of ARM in the third quarter valued at $52,000. Berbice Capital Management LLC purchased a new stake in shares of ARM in the fourth quarter valued at $49,000. Finally, Farther Finance Advisors LLC lifted its position in shares of ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after acquiring an additional 131 shares in the last quarter. 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.