ARM (NASDAQ:ARM) Downgraded by Sanford C. Bernstein to “Underperform”

Sanford C. Bernstein lowered shares of ARM (NASDAQ:ARM) from a market perform rating to an underperform rating in a research report report published on Thursday morning, MarketBeat reports. They currently have $100.00 target price on the stock.

Other equities analysts have also issued reports about the company. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, August 1st. Loop Capital increased their price objective on ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of ARM in a research note on Thursday, August 1st. Finally, HSBC cut shares of ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

ARM Stock Up 1.2 %

Shares of ARM stock opened at $143.00 on Thursday. ARM has a 12 month low of $49.82 and a 12 month high of $188.75. The company has a market cap of $149.84 billion and a PE ratio of 362.32. The business’s 50 day moving average is $140.79 and its two-hundred day moving average is $136.45.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same period last year, the business posted $0.24 EPS. ARM’s revenue was up 39.1% compared to the same quarter last year. As a group, equities analysts expect that ARM will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARM. Mark Sheptoff Financial Planning LLC bought a new position in shares of ARM in the first quarter valued at approximately $25,000. ORG Partners LLC acquired a new stake in ARM during the 3rd quarter valued at $29,000. Transcendent Capital Group LLC bought a new position in ARM in the 2nd quarter valued at $33,000. Gilliland Jeter Wealth Management LLC boosted its stake in ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. Finally, RiverPark Advisors LLC boosted its stake in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.