ARM (NASDAQ:ARM) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of ARM (NASDAQ:ARM) in a research note released on Thursday morning,Benzinga reports.

A number of other research firms also recently commented on ARM. JPMorgan Chase & Co. increased their target price on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price target on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Rosenblatt Securities increased their price target on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday. UBS Group started coverage on ARM in a report on Monday, November 25th. They set a “buy” rating and a $160.00 price target on the stock. Finally, Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $162.17.

ARM Stock Down 3.3 %

NASDAQ ARM opened at $167.47 on Thursday. ARM has a 52 week low of $72.25 and a 52 week high of $188.75. The firm has a market capitalization of $175.48 billion, a P/E ratio of 279.12, a PEG ratio of 7.46 and a beta of 4.56. The company has a 50-day moving average price of $143.45 and a 200-day moving average price of $139.80.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same period in the prior year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that ARM will post 0.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Modus Advisors LLC raised its holdings in shares of ARM by 300.2% during the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock worth $2,212,000 after purchasing an additional 13,453 shares during the last quarter. KP Management LLC raised its holdings in shares of ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after purchasing an additional 10,000 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of ARM by 150.1% during the third quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock worth $928,000 after purchasing an additional 3,893 shares during the last quarter. Willner & Heller LLC raised its holdings in shares of ARM by 193.7% during the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after purchasing an additional 4,484 shares during the last quarter. Finally, Avalon Global Asset Management LLC purchased a new position in shares of ARM during the third quarter worth $8,581,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.