Arm Holdings plc (NASDAQ:ARM – Get Free Report)’s stock price was up 2.3% on Wednesday after Guggenheim raised their price target on the stock from $110.00 to $169.00. Guggenheim currently has a buy rating on the stock. ARM traded as high as 166.80 and last traded at 164.25. Approximately 4,557,086 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 13,391,124 shares. The stock had previously closed at 160.61.
A number of other brokerages have also recently issued reports on ARM. New Street Research reiterated a “neutral” rating and set a $110.00 target price on shares of ARM in a research report on Tuesday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, May 9th. Bank of America increased their price target on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Evercore ISI cut their price objective on ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, KeyCorp increased their target price on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of 103.68.
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Institutional Trading of ARM
ARM Trading Up 1.3 %
The company’s 50-day moving average price is 123.54 and its 200-day moving average price is 109.89.
ARM (NASDAQ:ARM – Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. The firm had revenue of 928.00 million during the quarter, compared to analysts’ expectations of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. The company’s revenue was up 46.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. On average, research analysts expect that Arm Holdings plc will post 0.85 EPS for the current fiscal year.
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.
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