ARM Holdings plc Given Buy Rating at Benchmark Co. (ARMH)
ARM Holdings plc (NASDAQ:ARMH)‘s stock had its “buy” rating reaffirmed by analysts at Benchmark Co. in a research report issued to clients and investors on Friday, American Banking News reports. They currently have a $48.00 target price on the stock. Benchmark Co.’s price target would indicate a potential downside of 0.72% from the company’s current price.
A number of other firms have also recently commented on ARMH. Analysts at Canaccord Genuity raised their price target on shares of ARM Holdings plc (NASDAQ:ARMH) from $57.00 to $60.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank upgraded shares of ARM Holdings plc (NASDAQ:ARMH) from a “sell” rating to a “buy” rating in a research note to investors on Friday, August 30th. Finally, analysts at Zacks upgraded shares of ARM Holdings plc (NASDAQ:ARMH) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, July 9th. They now have a $40.80 price target on the stock.
Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $46.56.
Shares of ARM Holdings plc (NASDAQ:ARMH) traded down 0.23% during mid-day trading on Friday, hitting $48.24. The stock had a trading volume of 439,564 shares. ARM Holdings plc has a 52 week low of $27.12 and a 52 week high of $50.56. The stock’s 50-day moving average is $42.58 and its 200-day moving average is $42.25. The company has a market cap of $22.474 billion and a price-to-earnings ratio of 96.51.
ARM Holdings plc (NASDAQ:ARMH) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.05 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.05. The company had revenue of $171.20 million for the quarter, compared to the consensus estimate of $256.41 million. During the same quarter last year, the company posted $0.04 earnings per share. ARM Holdings plc’s revenue was up 26.3% compared to the same quarter last year. On average, analysts predict that ARM Holdings plc will post $1.03 earnings per share for the current fiscal year.
ARM Holdings plc (NASDAQ:ARMH) designs microprocessors, physical Internet protocol (IP) and related technology and software, and sells development tools.
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