ARM (NASDAQ:ARM) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

ARM (NASDAQ:ARM) announced its quarterly earnings results on Wednesday. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04, Briefing.com reports. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the prior year, the business earned $0.36 EPS. ARM’s quarterly revenue was up 4.7% on a year-over-year basis.

ARM Stock Up 4.1 %

NASDAQ:ARM traded up $5.97 during trading hours on Thursday, reaching $150.65. The company had a trading volume of 16,341,945 shares, compared to its average volume of 10,942,495. The firm has a market cap of $157.86 billion, a price-to-earnings ratio of 387.74, a P/E/G ratio of 6.45 and a beta of 5.40. The business’s 50-day simple moving average is $141.65 and its two-hundred day simple moving average is $137.54. ARM has a twelve month low of $49.82 and a twelve month high of $188.75.

Analyst Ratings Changes

ARM has been the subject of a number of recent research reports. Loop Capital boosted their price objective on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of ARM in a report on Thursday, August 1st. Citigroup boosted their price objective on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley raised shares of ARM from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $107.00 to $190.00 in a report on Friday, July 19th. Finally, TD Cowen boosted their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $145.57.

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.