ARM’s (ARM) Hold Rating Reiterated at Benchmark

Benchmark reiterated their hold rating on shares of ARM (NASDAQ:ARM) in a report released on Thursday,Benzinga reports.

Other equities research analysts also recently issued reports about the stock. Citigroup lifted their price target on shares of ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Loop Capital increased their price target on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a report on Thursday, October 31st. Raymond James lifted their price target on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, TD Cowen raised their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.17.

ARM Stock Performance

Shares of ARM stock opened at $167.47 on Thursday. ARM has a fifty-two week low of $72.25 and a fifty-two week high of $188.75. The stock has a 50 day simple moving average of $143.45 and a two-hundred day simple moving average of $139.80. The company has a market cap of $175.48 billion, a P/E ratio of 279.12, a PEG ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. On average, research analysts predict that ARM will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. ORG Partners LLC purchased a new stake in ARM during the third quarter valued at about $29,000. Gilliland Jeter Wealth Management LLC boosted its holdings in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares during the period. Berbice Capital Management LLC purchased a new position in ARM in the 4th quarter valued at approximately $49,000. Quantbot Technologies LP purchased a new position in ARM in the 3rd quarter valued at approximately $52,000. Finally, Farther Finance Advisors LLC raised its holdings in ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after acquiring an additional 131 shares during the period. Institutional investors own 7.53% of the company’s stock.

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.