ARM (NASDAQ:ARM) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of ARM (NASDAQ:ARM) in a report issued on Thursday,Benzinga reports.

ARM has been the topic of several other reports. Evercore ISI raised their target price on shares of ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday. Rosenblatt Securities lifted their price target on shares of ARM from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group lifted their price target on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average target price of $162.17.

ARM Stock Performance

NASDAQ:ARM opened at $167.47 on Thursday. ARM has a 52 week low of $72.25 and a 52 week high of $188.75. The firm has a market cap of $175.48 billion, a price-to-earnings ratio of 279.12, a P/E/G ratio of 7.46 and a beta of 4.56. The firm’s 50-day simple moving average is $143.45 and its 200 day simple moving average is $139.80.

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

Hedge Funds Weigh In On ARM

Several large investors have recently modified their holdings of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of ARM by 4.0% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 6,982 shares of the company’s stock worth $861,000 after purchasing an additional 269 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of ARM in the 4th quarter worth about $32,655,000. Oak Grove Capital LLC purchased a new position in shares of ARM in the 4th quarter worth about $284,000. Victory Capital Management Inc. raised its position in shares of ARM by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 57,611 shares of the company’s stock worth $7,107,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Kapstone Financial Advisors LLC purchased a new position in shares of ARM in the 4th quarter worth about $215,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.