Needham & Company LLC Reaffirms Hold Rating for ARM (NASDAQ:ARM)

ARM (NASDAQ:ARM)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

ARM has been the topic of a number of other reports. KeyCorp lifted their price objective on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Barclays upped their price target on ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. TD Cowen increased their target price on shares of ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Finally, Daiwa Capital Markets downgraded ARM from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of 91.64.

ARM Stock Performance

NASDAQ ARM opened at 99.06 on Thursday. The company’s fifty day moving average is 120.96 and its two-hundred day moving average is 90.88. ARM has a 52-week low of 46.50 and a 52-week high of 164.00.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million for the quarter, compared to the consensus estimate of 762.50 million. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts predict that ARM will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARM. Centerpoint Advisors LLC acquired a new stake in shares of ARM during the third quarter worth $32,000. Ancora Advisors LLC acquired a new stake in shares of ARM in the 3rd quarter valued at about $32,000. SOA Wealth Advisors LLC. acquired a new stake in shares of ARM in the 1st quarter valued at about $35,000. Bamco Inc. NY bought a new stake in shares of ARM in the third quarter valued at about $37,000. Finally, Naples Money Management LLC boosted its position in shares of ARM by 47.8% during the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

About ARM

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.