ARM (NASDAQ:ARM – Get Free Report) released its earnings results on Wednesday. The company reported 0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06, Briefing.com reports. The business had revenue of 928.00 million during the quarter, compared to analysts’ expectations of 865.94 million. ARM’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 EPS.
ARM Stock Down 2.3 %
ARM opened at 103.59 on Friday. The company has a fifty day moving average price of 120.40 and a two-hundred day moving average price of 90.99. ARM has a 52 week low of 46.50 and a 52 week high of 164.00.
Analysts Set New Price Targets
Several analysts recently issued reports on ARM shares. Wells Fargo & Company increased their price objective on ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. JPMorgan Chase & Co. raised their price target on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Barclays raised their price target on ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. BNP Paribas downgraded ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a research report on Friday, April 19th. Finally, Mizuho lifted their target price on ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, ARM currently has a consensus rating of “Hold” and an average target price of 91.64.
ARM Company Profile
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.
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