ARM (NASDAQ:ARM) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

ARM (NASDAQ:ARM) announced its earnings results on Wednesday. The company reported 0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.30 by 0.06, Briefing.com reports. The business had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. The company’s revenue for the quarter was up 46.6% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS.

ARM Stock Down 1.8 %

ARM traded down 1.94 on Thursday, hitting 104.13. 27,903,341 shares of the company traded hands, compared to its average volume of 14,066,203. The company has a 50 day moving average of 120.96 and a 200-day moving average of 90.88. ARM has a 12-month low of 46.50 and a 12-month high of 164.00.

Analyst Ratings Changes

Several research firms have recently commented on ARM. BNP Paribas lowered ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a report on Friday, April 19th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday. Mizuho raised their price objective on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Barclays increased their target price on shares of ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, Daiwa Capital Markets downgraded shares of ARM from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of 91.64.

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.