Deutsche Bank Reiterates Hold Rating for ARM Holdings plc (ARMH)
Shares of ARM Holdings plc (NASDAQ:ARMH) traded down 2.12% on Monday, hitting $46.25. The stock had a trading volume of 579,009 shares. ARM Holdings plc has a 52 week low of $37.39 and a 52 week high of $55.26. The stock’s 50-day moving average is $45.36 and its 200-day moving average is $47.91. The company has a market cap of $21.721 billion and a price-to-earnings ratio of 113.31.
ARM Holdings plc (NASDAQ:ARMH) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.06 by $0.01. The company had revenue of $186.70 million for the quarter, compared to the consensus estimate of $185.65 million. During the same quarter last year, the company posted $0.05 earnings per share. ARM Holdings plc’s revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that ARM Holdings plc will post $1.20 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ARMH. Analysts at Credit Suisse reiterated an “outperform” rating on shares of ARM Holdings plc in a research note on Tuesday, June 24th. Separately, analysts at BNP Paribas reiterated a “neutral” rating on shares of ARM Holdings plc in a research note on Monday, June 16th. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of ARM Holdings plc in a research note on Tuesday, June 10th. They now have a $45.59 price target on the stock, down previously from $60.00. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $49.08.
ARM Holdings plc (NASDAQ:ARMH) designs microprocessors, physical intellectual property (IP) and related technology and software, and sells development tools.
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