ARM (NASDAQ:ARM) Announces Quarterly Earnings Results

ARM (NASDAQ:ARM) announced its quarterly earnings results on Wednesday. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.10), Zacks reports. ARM had a net margin of 18.13% and a return on equity of 13.69%.

ARM Stock Up 6.8 %

Shares of ARM stock traded up $11.06 during mid-day trading on Wednesday, reaching $173.26. The company’s stock had a trading volume of 12,195,177 shares, compared to its average volume of 6,988,078. The company’s 50 day simple moving average is $142.65 and its 200-day simple moving average is $139.57. The firm has a market capitalization of $181.55 billion, a PE ratio of 288.77, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56. ARM has a 12-month low of $71.80 and a 12-month high of $188.75.

Analysts Set New Price Targets

Several research analysts recently issued reports on ARM shares. UBS Group initiated coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price target for the company. The Goldman Sachs Group upped their price objective on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Susquehanna increased their price target on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Finally, Evercore ISI upped their target price on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.09.

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.