Arm Holdings plc (NASDAQ:ARM) Given Average Rating of “Hold” by Analysts

Arm Holdings plc (NASDAQ:ARM) has earned an average recommendation of “Hold” from the twenty-seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and fourteen have issued a buy recommendation on the company.

Several analysts have recently weighed in on the stock. BNP Paribas downgraded shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a research note on Friday, April 19th. JPMorgan Chase & Co. lifted their target price on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Daiwa Capital Markets downgraded ARM from a “buy” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. New Street Research restated a “neutral” rating and issued a $110.00 price objective on shares of ARM in a report on Tuesday, February 27th. Finally, Evercore ISI began coverage on shares of ARM in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $156.00 price objective for the company.

ARM Stock Performance

Shares of NASDAQ:ARM opened at 97.93 on Friday. The business has a 50 day simple moving average of 125.59 and a two-hundred day simple moving average of 87.57. ARM has a 1 year low of 46.50 and a 1 year high of 164.00.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. The business’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that ARM will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of institutional investors have recently bought and sold shares of the business. JTC Employer Solutions Trustee Ltd raised its stake in shares of ARM by 14.8% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 1,550 shares of the company’s stock valued at $195,000 after buying an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new position in ARM during the first quarter valued at approximately $35,000. PNC Financial Services Group Inc. raised its position in ARM by 47.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock valued at $115,000 after acquiring an additional 494 shares in the last quarter. Hoey Investments Inc. acquired a new position in ARM in the third quarter valued at approximately $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ARM by 49.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock worth $117,000 after purchasing an additional 514 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.