Arm Holdings plc (NASDAQ:ARM) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Arm Holdings plc (NASDAQ:ARM) have earned a consensus rating of “Moderate Buy” from the twenty-seven research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, eighteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $150.32.

Several research firms recently weighed in on ARM. Susquehanna boosted their price target on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Raymond James began coverage on ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price target for the company. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, November 7th.

ARM Price Performance

ARM opened at $123.36 on Wednesday. ARM has a fifty-two week low of $65.11 and a fifty-two week high of $188.75. The firm has a market capitalization of $129.26 billion, a PE ratio of 205.60, a P/E/G ratio of 7.15 and a beta of 4.67. The company’s 50-day moving average is $138.49 and its 200 day moving average is $143.10.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. As a group, analysts expect that ARM will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its holdings in shares of ARM by 7.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 4,833 shares of the company’s stock worth $683,000 after purchasing an additional 337 shares during the period. Franklin Resources Inc. increased its stake in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after acquiring an additional 228,467 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of ARM in the 3rd quarter valued at about $419,000. Virtu Financial LLC bought a new stake in shares of ARM during the 3rd quarter valued at about $1,163,000. Finally, Hobbs Group Advisors LLC grew its holdings in shares of ARM by 7.4% during the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after purchasing an additional 100 shares in the last quarter. 7.53% of the stock is owned by institutional investors.

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.