Arm Holdings plc (NASDAQ:ARM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Arm Holdings plc (NASDAQ:ARM) has been assigned a consensus rating of “Moderate Buy” from the thirty analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, seventeen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $125.96.

A number of equities research analysts have issued reports on the stock. William Blair began coverage on shares of ARM in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, August 1st. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a research note on Thursday, August 8th. Guggenheim increased their price target on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Bank of America lifted their price objective on ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ARM. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of ARM in the first quarter valued at about $25,000. Transcendent Capital Group LLC acquired a new stake in ARM during the 2nd quarter worth approximately $33,000. SOA Wealth Advisors LLC. purchased a new position in shares of ARM in the 1st quarter valued at approximately $35,000. RiverPark Advisors LLC increased its holdings in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the period. Finally, Mather Group LLC. purchased a new stake in shares of ARM during the second quarter worth approximately $41,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Price Performance

Shares of ARM stock opened at $145.58 on Monday. The company has a 50-day moving average of $133.29 and a two-hundred day moving average of $133.29. ARM has a 1-year low of $46.50 and a 1-year high of $188.75. The firm has a market cap of $152.54 billion and a PE ratio of 158.68.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same period in the prior year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. Sell-side analysts anticipate that ARM will post 0.86 EPS for the current fiscal year.

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.