ARM Holdings plc’s Buy Rating Reaffirmed at Galvan Research (ARMH)
Other equities research analysts have also recently issued reports about the stock. Analysts at Benchmark Co. upgraded shares of ARM Holdings plc from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $49.00 price target on the stock, up previously from $47.00. Separately, analysts at Numis Securities Ltd reiterated a “buy” rating on shares of ARM Holdings plc in a research note on Monday. Finally, analysts at Numis Securities Ltd upgraded shares of ARM Holdings plc to a “buy” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $47.29.
Shares of ARM Holdings plc (NASDAQ:ARMH) traded up 4.27% on Friday, hitting $45.43. 2,071,382 shares of the company’s stock traded hands. ARM Holdings plc has a 52 week low of $39.69 and a 52 week high of $55.26. The stock’s 50-day moving average is $44.30 and its 200-day moving average is $46.52. The company has a market cap of $21.331 billion and a P/E ratio of 76.04.
ARM Holdings plc (NASDAQ:ARMH) last announced its earnings results on Tuesday, July 22nd. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.02. The company had revenue of $309.60 million for the quarter, compared to the consensus estimate of $306.32 million. During the same quarter last year, the company posted $0.05 earnings per share. ARM Holdings plc’s revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that ARM Holdings plc will post $1.18 earnings per share for the current fiscal year.
ARM Holdings plc (NASDAQ:ARMH) designs microprocessors, physical intellectual property (IP) and related technology and software, and sells development tools.
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