ARM’s (ARM) “Hold” Rating Reaffirmed at Needham & Company LLC

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

Several other brokerages also recently commented on ARM. Wells Fargo & Company upped their price target on shares of ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, April 29th. HSBC downgraded shares of ARM from a “hold” rating to a “reduce” rating in a report on Monday. BNP Paribas cut shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research report on Friday, April 19th. TD Cowen boosted their price objective on shares of ARM from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Bank of America boosted their price objective on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of 111.28.

ARM Stock Performance

ARM stock opened at 144.17 on Thursday. The company’s 50-day moving average price is 153.62 and its 200-day moving average price is 126.43. ARM has a twelve month low of 46.50 and a twelve month high of 188.75.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. The firm had revenue of 928.00 million for the quarter, compared to the consensus estimate of 865.94 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business’s quarterly revenue was up 46.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. As a group, equities analysts forecast that ARM will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ARM. Schroder Investment Management Group acquired a new stake in shares of ARM in the fourth quarter worth $480,194,000. Mubadala Investment Co PJSC acquired a new stake in shares of ARM in the fourth quarter worth $150,437,000. Wellington Management Group LLP increased its stake in shares of ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after acquiring an additional 1,611,926 shares during the period. Robeco Schweiz AG increased its stake in shares of ARM by 220.3% in the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after acquiring an additional 1,465,000 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of ARM by 15.7% in the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after acquiring an additional 994,551 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Company Profile

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.