ARM (NASDAQ:ARM) Now Covered by Benchmark

Benchmark began coverage on shares of ARM (NASDAQ:ARM) in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage set a “hold” rating on the stock.

ARM has been the topic of a number of other reports. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a report on Thursday, August 8th. Bank of America raised their price target on ARM from $150.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 17th. HSBC cut ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Citigroup lifted their target price on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of ARM in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $123.04.

ARM Price Performance

ARM stock opened at $147.37 on Monday. The company has a market cap of $154.42 billion and a P/E ratio of 148.06. ARM has a 1 year low of $46.50 and a 1 year high of $188.75. The stock’s fifty day moving average price is $139.85 and its 200-day moving average price is $132.81.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. ARM’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. As a group, analysts expect that ARM will post 0.82 earnings per share for the current year.

Institutional Trading of ARM

Large investors have recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of ARM in the first quarter valued at approximately $25,000. Transcendent Capital Group LLC purchased a new stake in shares of ARM in the second quarter valued at approximately $33,000. RiverPark Advisors LLC boosted its holdings in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the period. Mather Group LLC. purchased a new stake in shares of ARM in the second quarter valued at approximately $41,000. Finally, SOA Wealth Advisors LLC. bought a new position in ARM in the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.