Shares of Arm Holdings plc (NASDAQ:ARM – Get Free Report) have received a consensus rating of “Moderate Buy” from the twenty-four analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating on the company.
A number of brokerages have recently weighed in on ARM. Daiwa Capital Markets began coverage on ARM in a research note on Tuesday, October 10th. They issued a “buy” rating and a $63.00 target price on the stock. BMO Capital Markets began coverage on ARM in a research note on Monday, October 9th. They issued a “market perform” rating and a $60.00 target price on the stock. Wolfe Research began coverage on ARM in a research note on Monday, October 9th. They issued a “peer perform” rating on the stock. Morgan Stanley began coverage on ARM in a research note on Friday, November 10th. They issued an “equal weight” rating and a $55.00 target price on the stock. Finally, Mizuho began coverage on shares of ARM in a report on Monday, October 9th. They issued a “buy” rating and a $62.00 price target on the stock.
ARM Price Performance
ARM stock opened at 72.29 on Friday. ARM has a 52-week low of 46.50 and a 52-week high of 73.44. The company’s 50-day moving average is 58.29.
ARM (NASDAQ:ARM – Get Free Report) last announced its earnings results on Wednesday, November 8th. The company reported 0.36 earnings per share for the quarter, topping analysts’ consensus estimates of 0.26 by 0.10. The business had revenue of 806.00 million during the quarter, compared to analysts’ expectations of 739.71 million. During the same quarter in the previous year, the firm earned $0.17 EPS. ARM’s quarterly revenue was up 27.9% on a year-over-year basis. On average, analysts forecast that ARM will post 1.06 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of ARM. Hoey Investments Inc. bought a new position in shares of ARM during the third quarter valued at about $27,000. Armstrong Advisory Group Inc. bought a new stake in shares of ARM in the third quarter worth about $27,000. Centerpoint Advisors LLC bought a new stake in shares of ARM in the third quarter worth about $32,000. Ancora Advisors LLC bought a new stake in shares of ARM in the third quarter worth about $32,000. Finally, Bamco Inc. NY bought a new stake in shares of ARM in the third quarter worth about $37,000.
ARM Company Profile
Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.