ARM Holdings plc Downgraded by Natixis to “Neutral” (ARMH)
ARM Holdings plc (NASDAQ:ARMH) was downgraded by equities research analysts at Natixis from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, Analyst Ratings Network.com reports.
Several other analysts have also recently commented on the stock. Analysts at Benchmark Co. reiterated a “buy” rating on shares of ARM Holdings plc (NASDAQ:ARMH) in a research note to investors on Friday, September 20th. They now have a $48.00 price target on the stock. Separately, 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, September 20th. They now have a “buy” rating on the stock. Finally, 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. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $46.56.
Shares of ARM Holdings plc (NASDAQ:ARMH) traded down 1.39% during mid-day trading on Wednesday, hitting $48.29. 503,421 shares of the company’s stock traded hands. ARM Holdings plc has a 52 week low of $27.57 and a 52 week high of $50.56. The stock has a 50-day moving average of $44.32 and a 200-day moving average of $42.58. The company has a market cap of $22.497 billion and a P/E ratio of 97.74.
ARM Holdings plc (NASDAQ:ARMH) last announced its earnings results on Wednesday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the 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 in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. On average, analysts predict that ARM Holdings plc will post $1.04 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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