ARM (NASDAQ:ARM) Downgraded to “Neutral” at BNP Paribas

BNP Paribas downgraded shares of ARM (NASDAQ:ARMFree Report) from an outperform rating to a neutral rating in a research report released on Friday, MarketBeat reports. BNP Paribas currently has $100.00 price target on the stock.

Several other analysts have also recently commented on ARM. JPMorgan Chase & Co. raised their target price on ARM from $70.00 to $100.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Rosenblatt Securities increased their target price on ARM from $140.00 to $180.00 and gave the company a buy rating in a report on Monday, February 26th. The Goldman Sachs Group lifted their price target on ARM from $95.00 to $108.00 and gave the company a buy rating in a report on Wednesday, April 10th. Barclays raised their price objective on ARM from $65.00 to $105.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Finally, Susquehanna reissued a neutral rating and issued a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of 90.28.

View Our Latest Stock Report on ARM

ARM Trading Down 16.9 %

ARM stock opened at 87.19 on Friday. The stock has a 50-day simple moving average of 128.44 and a 200-day simple moving average of 86.83. ARM has a 1 year low of 46.50 and a 1 year high of 164.00.

ARM (NASDAQ:ARMGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million for the quarter, compared to analyst estimates of 762.50 million. ARM’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts expect that ARM will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Several hedge funds have recently modified their holdings of the stock. Schroder Investment Management Group acquired a new position in ARM during the fourth quarter worth $480,194,000. Jennison Associates LLC acquired a new position in shares of ARM during the 3rd quarter worth approximately $339,965,000. FMR LLC acquired a new position in shares of ARM during the 3rd quarter worth approximately $242,812,000. Wellington Management Group LLP bought a new stake in ARM in the 3rd quarter valued at $152,896,000. Finally, Invesco Ltd. acquired a new stake in ARM during the 3rd quarter valued at $143,092,000. Institutional investors own 7.53% of the company’s stock.

About ARM

(Get Free Report)

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.

Further Reading

Analyst Recommendations for ARM (NASDAQ:ARM)

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