Benchmark Reiterates Hold Rating for ARM (NASDAQ:ARM)

ARM (NASDAQ:ARM)‘s stock had its “hold” rating restated by equities researchers at Benchmark in a note issued to investors on Thursday,Benzinga reports.

Several other research firms have also recently commented on ARM. Susquehanna raised their price target on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. TD Cowen raised their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI upped their price target on shares of ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays raised their price objective on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company upped their target price on shares of ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $162.17.

ARM Stock Performance

Shares of ARM stock opened at $162.51 on Thursday. The company has a market cap of $170.28 billion, a P/E ratio of 270.85, a PEG ratio of 7.46 and a beta of 4.56. The firm has a fifty day moving average of $144.13 and a two-hundred day moving average of $140.00. ARM has a one year low of $85.61 and a one year high of $188.75.

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

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of ARM by 4,506.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after purchasing an additional 791,392 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in ARM during the fourth quarter worth about $32,655,000. Hedge funds and other 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.