Benchmark Reiterates Hold Rating for ARM (NASDAQ:ARM)

ARM (NASDAQ:ARM)‘s stock had its “hold” rating restated by research analysts at Benchmark in a report released on Thursday,Benzinga reports.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company reduced their price objective on ARM from $185.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Morgan Stanley decreased their price objective on ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. raised their target price on ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. KGI Securities assumed coverage on shares of ARM in a report on Tuesday, April 15th. They set a “neutral” rating on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average target price of $154.67.

ARM Stock Down 0.6 %

Shares of NASDAQ:ARM opened at $115.87 on Thursday. The business’s 50 day moving average is $110.45 and its 200 day moving average is $132.16. The stock has a market cap of $121.41 billion, a P/E ratio of 152.46, a price-to-earnings-growth ratio of 6.33 and a beta of 4.39. ARM has a 52-week low of $80.00 and a 52-week high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. ARM had a net margin of 21.82% and a return on equity of 11.94%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business posted $0.36 EPS. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, sell-side analysts anticipate that ARM will post 0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently modified their holdings of ARM. GAMMA Investing LLC acquired a new stake in ARM during the 4th quarter worth $181,000. Diversified Trust Co purchased a new position in shares of ARM in the 4th quarter valued at approximately $301,000. Watts Gwilliam & Co. LLC increased its holdings in shares of ARM by 15.5% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 8,109 shares of the company’s stock valued at $1,000,000 after purchasing an additional 1,088 shares during the period. Crescent Sterling Ltd. raised its stake in shares of ARM by 6.5% during the fourth quarter. Crescent Sterling Ltd. now owns 1,879 shares of the company’s stock worth $232,000 after purchasing an additional 114 shares during the last quarter. Finally, Harbour Capital Advisors LLC lifted its holdings in shares of ARM by 7.5% during the fourth quarter. Harbour Capital Advisors LLC now owns 8,135 shares of the company’s stock worth $1,004,000 after purchasing an additional 565 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.