ARM (NASDAQ:ARM) Issues Quarterly Earnings Results

ARM (NASDAQ:ARM) released its quarterly earnings data on Wednesday. The company reported $0.30 EPS for the quarter, topping 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 analysts’ expectations of $810.03 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share.

ARM Trading Down 2.4 %

NASDAQ ARM traded down $3.58 during trading on Friday, hitting $147.07. 1,172,518 shares of the company’s stock were exchanged, compared to its average volume of 10,897,641. The company has a market cap of $154.10 billion, a PE ratio of 386.29, a P/E/G ratio of 6.27 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’s 50 day moving average price is $141.65 and its two-hundred day moving average price is $137.54.

Analyst Ratings Changes

Several research analysts have weighed in on ARM shares. Benchmark assumed coverage on shares of ARM in a report on Monday, September 16th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. increased their target price on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research note on Thursday, October 31st. TD Cowen increased their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Hsbc Global Res raised ARM to a “moderate sell” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.