ARM (NASDAQ:ARM) Issues Earnings Results

ARM (NASDAQ:ARM) issued its quarterly earnings data on Wednesday. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04, Briefing.com reports. The business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS.

ARM Price Performance

Shares of NASDAQ:ARM traded up $5.97 during trading on Thursday, hitting $150.65. The company’s stock had a trading volume of 16,341,945 shares, compared to its average volume of 10,942,495. The company has a 50-day moving average of $141.65 and a 200-day moving average of $137.54. ARM has a 12 month low of $49.82 and a 12 month high of $188.75. 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.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ARM. Susquehanna upped their target price on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday. 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 research report on Thursday. The Goldman Sachs Group upped their target price on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, William Blair began coverage on shares of ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average 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.