ARM (NASDAQ:ARM) Announces Quarterly Earnings Results

ARM (NASDAQ:ARM) posted its earnings results on Wednesday. The company reported 0.36 EPS for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06, Briefing.com reports. The business had revenue of 928.00 million during the quarter, compared to analysts’ expectations of 865.94 million. ARM’s revenue for the quarter was up 46.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS.

ARM Stock Performance

NASDAQ:ARM traded up 5.66 during mid-day trading on Friday, hitting 109.25. 11,345,757 shares of the company’s stock traded hands, compared to its average volume of 14,054,262. The firm’s 50 day simple moving average is 119.66 and its 200 day simple moving average is 91.08. ARM has a 1 year low of 46.50 and a 1 year high of 164.00.

Analysts Set New Price Targets

A number of research firms recently weighed in on ARM. Mizuho increased their price objective on shares of ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. The Goldman Sachs Group lifted their target price on ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. BNP Paribas lowered shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research note on Friday, April 19th. Barclays upped their target price on shares of ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ARM from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, ARM presently has a consensus rating of “Hold” and a consensus price target 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.