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

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

A number of other brokerages have also recently commented on ARM. Hsbc Global Res raised ARM to a “moderate sell” rating in a research note on Monday. Sanford C. Bernstein lifted their price objective on ARM from $72.00 to $92.00 and gave the stock an “underperform” rating in a research note on Thursday, May 16th. Susquehanna reaffirmed a “neutral” rating and set a $85.00 price objective on shares of ARM in a research note on Thursday, April 4th. Evercore ISI decreased their target price on ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $107.00 to $190.00 in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of 111.28.

ARM Trading Up 8.4 %

Shares of ARM stock opened at 144.17 on Thursday. ARM has a 12 month low of 46.50 and a 12 month high of 188.75. The stock has a 50-day moving average price of 153.62 and a 200 day moving average price of 126.43.

ARM (NASDAQ:ARM) last posted its quarterly 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. ARM had a net margin of 9.46% and a return on equity of 16.94%. The business had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. During the same period in the previous year, the firm posted $0.02 earnings per share. ARM’s revenue for the quarter was up 46.6% compared to the same quarter last year. Equities analysts forecast that ARM will post 0.82 EPS for the current fiscal year.

Institutional Trading of ARM

Several institutional investors and hedge funds have recently bought and sold shares of ARM. Mark Sheptoff Financial Planning LLC acquired a new position in shares of ARM in the first quarter valued at approximately $25,000. Transcendent Capital Group LLC acquired a new position in shares of ARM in the second quarter valued at approximately $33,000. SOA Wealth Advisors LLC. acquired a new position in shares of ARM in the first quarter valued at approximately $35,000. RiverPark Advisors LLC grew its position in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in ARM during the second quarter worth approximately $41,000. 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.