ARM Holdings plc (ARM) Downgraded by Berenberg Bank
ARM Holdings plc (LON:ARM) was downgraded by investment analysts at Berenberg Bank to a “hold” rating in a report issued on Tuesday. They presently have a GBX 1,700 ($21.04) price objective on the stock, up from their previous price objective of GBX 1,400 ($17.33). Berenberg Bank’s target price would suggest a potential downside of 0.11% from the stock’s current price.
A number of other brokerages also recently issued reports on ARM. JPMorgan Chase & Co. reissued a “neutral” rating and set a GBX 1,189 ($14.72) price target on shares of ARM Holdings plc in a report on Monday, July 18th. Numis Securities Ltd downgraded shares of ARM Holdings plc to a “hold” rating and set a GBX 1,700 ($21.04) price target on the stock. in a report on Monday, July 18th. Kepler Capital Markets reissued a “buy” rating and set a GBX 1,230 ($15.22) price target on shares of ARM Holdings plc in a report on Monday, July 18th. Citigroup Inc. increased their price target on shares of ARM Holdings plc from GBX 1,090 ($13.49) to GBX 1,700 ($21.04) and gave the stock a “neutral” rating in a report on Tuesday, July 19th. Finally, Deutsche Bank AG restated a “hold” rating and set a GBX 1,150 ($14.23) price objective on shares of ARM Holdings plc in a research report on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of GBX 1,298.96 ($16.08).
Shares of ARM Holdings plc (LON:ARM) traded up 0.11% during trading on Tuesday, hitting GBX 1701.90. 33,234,967 shares of the company’s stock were exchanged. The company has a 50-day moving average of GBX 1,684.23 and a 200-day moving average of GBX 1,173.40. ARM Holdings plc has a 12-month low of GBX 831.64 and a 12-month high of GBX 1,752.00.
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The company also recently announced a dividend, which was paid on Monday, October 10th. Investors of record on Thursday, September 8th were issued a GBX 3.78 ($0.05) dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a yield of 0.23%.
ARM Holdings plc Company Profile
ARM Holdings plc (ARM) is a company engaged in designing a range of inter-related intellectual property (IP), including microprocessors, Physical IP, and supporting software and tools. Its product offering includes 16/32/64-bit reduced instruction set computing (RISC) microprocessors, data engines, graphics processors, digital libraries, embedded memories, peripherals, software and development tools, as well as analog functions and high-speed connectivity products.
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