Jefferies Group Reaffirms Buy Rating for ARM Holdings plc (ARMH)
Shares of ARM Holdings plc (NASDAQ:ARMH) traded up 1.46% on Tuesday, hitting $49.24. The stock had a trading volume of 2,466,841 shares. ARM Holdings plc has a one year low of $40.74 and a one year high of $55.26. The stock’s 50-day moving average is $44.80 and its 200-day moving average is $46.. The company has a market cap of $23.120 billion and a price-to-earnings ratio of 86.05.
ARM Holdings plc (NASDAQ:ARMH) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that ARM Holdings plc will post $1.18 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Liberum Capital reiterated a “sell” rating on shares of ARM Holdings plc in a research note on Friday, August 22nd. Separately, analysts at Galvan Research reiterated a “buy” rating on shares of ARM Holdings plc in a research note on Friday, August 8th. Finally, analysts at Benchmark Co. upgraded shares of ARM Holdings plc from a “hold” rating to a “buy” rating in a research note on Thursday, August 7th. They now have a $49.00 price target on the stock, up previously from $47.00. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company. ARM Holdings plc currently has an average rating of “Buy” and a consensus price target of $47.29.
ARM Holdings plc (NASDAQ:ARMH) designs microprocessors, physical intellectual property (IP) and related technology and software, and sells development tools.
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