Goldman Sachs Group Inc. Downgrades ARM Holdings plc to Buy (ARMH)
ARM Holdings plc (NASDAQ:ARMH) was downgraded by equities researchers at Goldman Sachs Group Inc. from a “conviction-buy” rating to a “buy” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank downgraded shares of ARM Holdings plc from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Separately, analysts at BMO Capital Markets downgraded shares of ARM Holdings plc from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, January 3rd. Finally, analysts at Pacific Crest cut their price target on shares of ARM Holdings plc from $56.00 to $54.00 in a research note to investors on Thursday, December 19th. They now have an “outperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.28.
ARM Holdings plc (NASDAQ:ARMH) traded down 8.26% during mid-day trading on Thursday, hitting $48.63. 3,129,631 shares of the company’s stock traded hands. ARM Holdings plc has a 1-year low of $34.75 and a 1-year high of $55.26. The stock has a 50-day moving average of $50.89 and a 200-day moving average of $45.41. The company has a market cap of $22.670 billion and a price-to-earnings ratio of 100.97.
ARM Holdings plc (NASDAQ:ARMH) last announced its earnings results on Tuesday, October 22nd. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.19. The company had revenue of $184.00 million for the quarter, compared to the consensus estimate of $274.39 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 27.2% on a year-over-year basis. Analysts expect that ARM Holdings plc will post $0.98 EPS 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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