BNP Paribas Lowers ARM (NASDAQ:ARM) to Neutral

BNP Paribas downgraded shares of ARM (NASDAQ:ARM) from an outperform rating to a neutral rating in a research report released on Friday morning, MarketBeat reports. BNP Paribas currently has $100.00 price objective on the stock.

A number of other analysts have also issued reports on the company. Mizuho increased their target price on ARM from $100.00 to $160.00 and gave the company a buy rating in a report on Thursday, March 7th. JPMorgan Chase & Co. increased their target price on ARM from $70.00 to $100.00 and gave the company an overweight rating in a report on Thursday, February 8th. KeyCorp increased their target price on ARM from $120.00 to $135.00 and gave the company an overweight rating in a report on Monday, April 8th. Evercore ISI initiated coverage on ARM in a report on Tuesday, April 16th. They issued an outperform rating and a $156.00 target price for the company. Finally, New Street Research restated a neutral rating and issued a $110.00 target price on shares of ARM in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of 90.28.

ARM Price Performance

ARM opened at 93.11 on Friday. The business has a fifty day simple moving average of 127.32 and a 200-day simple moving average of 87.12. ARM has a fifty-two week low of 46.50 and a fifty-two week high of 164.00.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping the consensus estimate of 0.25 by 0.04. The company had revenue of 824.00 million for the quarter, compared to the consensus estimate of 762.50 million. ARM’s revenue was up 13.8% on a year-over-year basis. As a group, equities analysts expect that ARM will post 0.36 EPS for the current year.

Institutional Investors Weigh In On ARM

A number of institutional investors have recently added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd raised its stake in shares of ARM by 14.8% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 1,550 shares of the company’s stock valued at $195,000 after acquiring an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. bought a new position in shares of ARM in the first quarter valued at approximately $35,000. PNC Financial Services Group Inc. raised its position in ARM by 47.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock worth $115,000 after purchasing an additional 494 shares during the last quarter. Hoey Investments Inc. bought a new position in ARM in the 3rd quarter worth approximately $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in ARM by 49.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock worth $117,000 after purchasing an additional 514 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

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.