ARM (NASDAQ:ARM) Given “Hold” Rating at Benchmark

Benchmark reiterated their hold rating on shares of ARM (NASDAQ:ARM) in a report published on Thursday,Benzinga reports.

ARM has been the topic of several other reports. Rosenblatt Securities increased their target price on ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup increased their price objective on shares of ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday. TD Cowen increased their price target on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Loop Capital boosted their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.17.

ARM Stock Down 3.3 %

NASDAQ ARM opened at $167.47 on Thursday. The firm has a 50-day moving average price of $143.45 and a two-hundred day moving average price of $139.80. ARM has a 12-month low of $72.25 and a 12-month high of $188.75. The company has a market capitalization of $175.48 billion, a P/E ratio of 279.12, a P/E/G ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the previous year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts expect that ARM will post 0.84 EPS for the current year.

Institutional Trading of ARM

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its position in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of ARM in the fourth quarter worth approximately $32,655,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 acquiring an additional 233,909 shares during the last quarter. Franklin Resources Inc. increased its position in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the period. Finally, SG Americas Securities LLC bought a new position in ARM during the 4th quarter worth approximately $22,705,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.