ARM (NASDAQ:ARM) Issues Earnings Results

ARM (NASDAQ:ARM) released its earnings results on Wednesday. The company reported 0.40 EPS for the quarter, topping analysts’ consensus estimates of 0.35 by 0.05, Briefing.com reports. ARM had a net margin of 9.46% and a return on equity of 16.94%. The company had revenue of 939.00 million for the quarter, compared to analysts’ expectations of 905.53 million. During the same quarter last year, the business earned $0.24 EPS. The firm’s revenue was up 39.1% compared to the same quarter last year.

ARM Stock Down 15.7 %

Shares of NASDAQ:ARM traded down 22.66 on Thursday, hitting 121.51. 31,182,100 shares of the company’s stock were exchanged, compared to its average volume of 12,895,887. ARM has a 12 month low of 46.50 and a 12 month high of 188.75. The business’s 50 day simple moving average is 153.80 and its two-hundred day simple moving average is 126.39.

Wall Street Analyst Weigh In

ARM has been the topic of a number of recent analyst reports. Guggenheim raised their target price on shares of ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Evercore ISI increased their price objective on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday. Sanford C. Bernstein increased their price objective on shares of ARM from $72.00 to $92.00 and gave the company an “underperform” rating in a report on Thursday, May 16th. BNP Paribas lowered shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a report on Friday, April 19th. Finally, HSBC lowered shares of ARM from a “hold” rating to a “reduce” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of 118.80.

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.