ARM (NASDAQ:ARM) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

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

ARM Trading Down 2.1 %

NASDAQ ARM opened at $147.48 on Friday. The business’s 50 day moving average is $142.03 and its two-hundred day moving average is $137.63. The stock has a market capitalization of $154.53 billion, a price-to-earnings ratio of 378.16, a PEG ratio of 6.27 and a beta of 5.40. ARM has a 12-month low of $49.82 and a 12-month high of $188.75.

Analyst Upgrades and Downgrades

ARM has been the subject of several analyst reports. HSBC cut ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a research note on Thursday, October 31st. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays lifted their price target on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.57.

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.