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

ARM (NASDAQ:ARM) released its quarterly earnings results 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. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period last year, the firm earned $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis.

ARM Stock Performance

NASDAQ ARM traded up $5.97 on Thursday, hitting $150.65. The stock had a trading volume of 16,341,945 shares, compared to its average volume of 10,942,495. ARM has a 52-week low of $49.82 and a 52-week high of $188.75. The company has a market capitalization of $157.86 billion, a price-to-earnings ratio of 387.74, a price-to-earnings-growth ratio of 6.45 and a beta of 5.40. The firm has a 50-day moving average of $141.65 and a 200-day moving average of $137.54.

Analyst Ratings Changes

ARM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Evercore ISI raised their price objective on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays raised their price objective on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday. HSBC downgraded shares of ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Finally, Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and a consensus 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.