Pacific Crest Reaffirms Hold Rating for Arm Holdings PLC (ARMH)

Arm Holdings PLC (NASDAQ:ARMH)‘s stock had its “hold” rating reaffirmed by equities researchers at Pacific Crest in a research note issued on Thursday.

A number of hedge funds and institutional investors have modified their holdings of ARMH. Checchi Capital Advisers LLC increased its position in shares of Arm Holdings PLC by 3.1% in the second quarter. Checchi Capital Advisers LLC now owns 2,925 shares of the company’s stock valued at $133,000 after buying an additional 88 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Arm Holdings PLC by 158.7% in the first quarter. Bessemer Group Inc. now owns 3,185 shares of the company’s stock valued at $139,000 after buying an additional 1,954 shares in the last quarter. IFP Advisors Inc increased its position in shares of Arm Holdings PLC by 1.1% in the first quarter. IFP Advisors Inc now owns 3,516 shares of the company’s stock valued at $154,000 after buying an additional 39 shares in the last quarter. Seven Eight Capital LLC acquired a new position in shares of Arm Holdings PLC during the first quarter valued at approximately $183,000. Finally, Raymond James Trust N.A. increased its position in shares of Arm Holdings PLC by 7.0% in the second quarter. Raymond James Trust N.A. now owns 5,598 shares of the company’s stock valued at $255,000 after buying an additional 364 shares in the last quarter.

Shares of Arm Holdings PLC (NASDAQ:ARMH) traded down 0.42% during trading on Thursday, hitting $65.92. 1,238,423 shares of the stock were exchanged. The firm has a 50 day moving average of $49.04 and a 200-day moving average of $43.66. Arm Holdings PLC has a 12-month low of $36.68 and a 12-month high of $67.48. The company has a market cap of $30.92 billion and a price-to-earnings ratio of 68.03.

Arm Holdings PLC (NASDAQ:ARMH) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.27. The business earned $267.60 million during the quarter, compared to analysts’ expectations of $393.45 million. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. On average, analysts forecast that Arm Holdings PLC will post $1.50 earnings per share for the current year.

A number of other equities analysts have also recently weighed in on ARMH. Zacks Investment Research upgraded Arm Holdings PLC from a “sell” rating to a “hold” rating in a report on Tuesday, April 12th. Jefferies Group cut Arm Holdings PLC from a “buy” rating to a “hold” rating in a report on Monday, April 18th. Barclays PLC restated an “overweight” rating on shares of Arm Holdings PLC in a report on Saturday, April 23rd. Beaufort Securities restated a “buy” rating on shares of Arm Holdings PLC in a report on Saturday, April 23rd. Finally, Deutsche Bank AG restated a “hold” rating on shares of Arm Holdings PLC in a report on Friday, May 20th. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have assigned a buy rating to the stock. Arm Holdings PLC currently has an average rating of “Hold” and a consensus target price of $53.15.

ARM Holdings plc (ARM) is a company engaged in designing a range of inter-related intellectual property (IP), including microprocessors, Physical IP, and supporting software and tools. Its product offering includes 16/32/64-bit reduced instruction set computing (RISC) microprocessors, data engines, graphics processors, digital libraries, embedded memories, peripherals, software and development tools, as well as analog functions and high-speed connectivity products.