ARM’s (ARM) Hold Rating Reiterated at Needham & Company LLC

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

ARM has been the topic of several other research reports. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Hsbc Global Res raised ARM to a “moderate sell” rating in a research note on Monday, July 29th. Benchmark initiated coverage on ARM in a report on Monday, September 16th. They set a “hold” rating for the company. Raymond James assumed coverage on ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 target price on the stock. Finally, William Blair initiated coverage on shares of ARM in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.57.

ARM Price Performance

Shares of ARM stock opened at $147.48 on Thursday. The firm has a market cap of $154.53 billion, a price-to-earnings ratio of 245.80, a PEG ratio of 6.59 and a beta of 5.40. The stock’s 50-day moving average is $142.32 and its 200 day moving average is $138.01. ARM has a one year low of $49.82 and a one year high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 14.14%. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter last year, the firm posted $0.36 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that ARM will post 0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Several large investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the period. Sei Investments Co. raised its holdings in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after purchasing an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after buying an additional 233,909 shares during the last quarter. Marsico Capital Management LLC purchased a new stake in ARM in the 2nd quarter worth about $33,207,000. Finally, Zevenbergen Capital Investments LLC bought a new stake in ARM in the 1st quarter valued at about $23,704,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.