ARM (NASDAQ:ARM) Earns Hold Rating from Needham & Company LLC

ARM (NASDAQ:ARM)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports.

A number of other equities research analysts have also recently commented on ARM. Barclays increased their target price on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Wells Fargo & Company raised their price objective on ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. UBS Group started coverage on ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 target price on the stock. Loop Capital raised 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.17.

ARM Stock Performance

NASDAQ ARM opened at $162.51 on Thursday. ARM has a one year low of $85.61 and a one year high of $188.75. The company has a market capitalization of $170.28 billion, a price-to-earnings ratio of 270.85, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56. The company’s 50-day simple moving average is $144.13 and its two-hundred day simple moving average is $140.00.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. Equities analysts expect that ARM will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Several hedge funds have recently modified their holdings of ARM. ORG Partners LLC acquired a new position in ARM in the 3rd quarter worth about $29,000. Gilliland Jeter Wealth Management LLC increased its position in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares in the last quarter. Berbice Capital Management LLC acquired a new position in shares of ARM during the 4th quarter worth approximately $49,000. Quantbot Technologies LP purchased a new position in shares of ARM during the 3rd quarter valued at approximately $52,000. Finally, Farther Finance Advisors LLC grew its stake in ARM by 45.8% in 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. 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.