ARM (NASDAQ:ARM) Releases Earnings Results

ARM (NASDAQ:ARM) released its quarterly earnings data on Wednesday. The company reported 0.36 earnings per share for the quarter, beating the consensus estimate of 0.30 by 0.06, Briefing.com reports. The company had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. The business’s revenue was up 46.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS.

ARM Trading Up 5.5 %

Shares of ARM stock traded up 5.66 on Friday, reaching 109.25. The company’s stock had a trading volume of 11,345,757 shares, compared to its average volume of 14,054,262. ARM has a 12-month low of 46.50 and a 12-month high of 164.00. The stock’s 50 day simple moving average is 119.66 and its 200-day simple moving average is 91.08.

Analyst Ratings Changes

A number of research firms have recently issued reports on ARM. Daiwa Capital Markets cut shares of ARM from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. New Street Research restated a “neutral” rating and set a $110.00 price objective on shares of ARM in a research note on Tuesday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, TD Cowen boosted their price target on shares of ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of 91.64.

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.