ARM (NASDAQ:ARM) Posts Earnings Results, Beats Expectations By $0.04 EPS

ARM (NASDAQ:ARM) announced its earnings results on Wednesday. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04, Briefing.com reports. The firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS.

ARM Stock Performance

Shares of NASDAQ ARM traded up $6.31 during trading on Thursday, hitting $150.99. 14,491,602 shares of the company were exchanged, compared to its average volume of 10,933,990. The company has a fifty day moving average price of $141.27 and a 200-day moving average price of $137.49. The firm has a market capitalization of $158.21 billion, a PE ratio of 392.15, a P/E/G ratio of 6.45 and a beta of 5.40. ARM has a 12-month low of $49.82 and a 12-month high of $188.75.

Wall Street Analyst Weigh In

Several brokerages recently commented on ARM. HSBC cut ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 target price on shares of ARM in a report on Thursday, August 1st. Loop Capital upped their target price on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Susquehanna increased their target price on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Evercore ISI increased their target price on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $145.57.

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.