Shares of Arm Holdings plc (NASDAQ:ARM – Get Free Report) rose 2.3% on Wednesday after Guggenheim raised their price target on the stock from $110.00 to $169.00. Guggenheim currently has a buy rating on the stock. ARM traded as high as 166.80 and last traded at 164.25. Approximately 4,557,086 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 13,391,124 shares. The stock had previously closed at 160.61.
ARM has been the subject of several other reports. Mizuho raised their price target on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Sanford C. Bernstein raised their price target on ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a report on Thursday, May 16th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Monday, May 6th. The Goldman Sachs Group raised their price target on ARM from $110.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Finally, Wells Fargo & Company raised their price target on ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of 103.68.
Check Out Our Latest Stock Analysis on ARM
Hedge Funds Weigh In On ARM
ARM Trading Up 2.6 %
The business has a fifty day moving average price of 122.40 and a 200 day moving average price of 109.50.
ARM (NASDAQ:ARM – Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. The business had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. The business’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 EPS. Research analysts predict that Arm Holdings plc will post 0.85 earnings per share for the current 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.
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