ARM (NASDAQ:ARM) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

ARM (NASDAQ:ARM) posted its quarterly earnings data on Wednesday. The company reported 0.40 EPS for the quarter, topping the consensus estimate of 0.35 by 0.05, Briefing.com reports. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business had revenue of 939.00 million during the quarter, compared to the consensus estimate of 905.53 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year.

ARM Trading Down 17.0 %

Shares of ARM traded down 24.50 during mid-day trading on Thursday, reaching 119.67. 26,979,598 shares of the stock traded hands, compared to its average volume of 12,867,299. The stock has a fifty day simple moving average of 153.62 and a 200 day simple moving average of 126.43. ARM has a 12-month low of 46.50 and a 12-month high of 188.75.

Analysts Set New Price Targets

ARM has been the topic of several research analyst reports. Susquehanna reiterated a “neutral” rating and issued a $85.00 target price on shares of ARM in a research report on Thursday, April 4th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday. Citigroup boosted their price target on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Bank of America upped their target price on shares of ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, ARM currently has a consensus rating of “Hold” and an average price target of 118.80.

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.