ARM’s (ARM) “Hold” Rating Reiterated at Benchmark

Benchmark reiterated their hold rating on shares of ARM (NASDAQ:ARM) in a research note published on Monday morning,Benzinga reports.

Other equities analysts also recently issued reports about the stock. Bank of America cut their price target on shares of ARM from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Barclays dropped their target price on shares of ARM from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, May 8th. JPMorgan Chase & Co. dropped their price objective on ARM from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Finally, KeyCorp cut their target price on shares of ARM from $195.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $152.76.

ARM Price Performance

Shares of ARM stock opened at $140.38 on Monday. The firm has a 50-day moving average of $118.29 and a 200-day moving average of $130.65. ARM has a one year low of $80.00 and a one year high of $188.75. The company has a market cap of $148.70 billion, a P/E ratio of 184.71, a P/E/G ratio of 6.33 and a beta of 4.08.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. As a group, research analysts expect that ARM will post 0.9 earnings per share for the current fiscal year.

Institutional Trading of ARM

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of ARM by 6.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,534 shares of the company’s stock valued at $1,916,000 after purchasing an additional 982 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of ARM by 14.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,773 shares of the company’s stock worth $342,000 after purchasing an additional 350 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of ARM in the fourth quarter worth $128,000. UNICOM Systems Inc. purchased a new stake in shares of ARM during the fourth quarter worth about $13,673,000. Finally, Leavell Investment Management Inc. bought a new stake in shares of ARM in the fourth quarter worth about $548,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.