ARM (NASDAQ:ARM) Releases Q3 Earnings Guidance

ARM (NASDAQ:ARM) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.32-0.36 for the period, compared to the consensus earnings per share estimate of $0.33. The company issued revenue guidance of $920-970 million, compared to the consensus revenue estimate of $939.31 million. ARM also updated its FY25 guidance to $1.45-1.65 EPS.

ARM Stock Up 2.9 %

Shares of NASDAQ:ARM traded up $4.03 during midday trading on Wednesday, reaching $144.68. 9,230,652 shares of the company were exchanged, compared to its average volume of 10,910,264. The firm has a market cap of $151.60 billion, a PE ratio of 370.98, a P/E/G ratio of 6.45 and a beta of 5.40. ARM has a fifty-two week low of $49.82 and a fifty-two week high of $188.75. The stock has a fifty day simple moving average of $141.27 and a two-hundred day simple moving average of $137.49.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARM. Loop Capital upped their price objective on ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. HSBC downgraded shares of ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Citigroup increased their target price on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. Finally, William Blair assumed coverage on shares of ARM in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ARM has an average rating of “Moderate Buy” and an average target price of $138.57.

About ARM

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.