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

ARM (NASDAQ:ARM - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports.

ARM has been the topic of a number of other research reports. KGI Securities began coverage on shares of ARM in a report on Tuesday, April 15th. They set a "neutral" rating on the stock. The Goldman Sachs Group boosted their price objective on shares of ARM from $159.00 to $174.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Morgan Stanley decreased their price objective on ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Raymond James upped their price target on ARM from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Susquehanna lifted their price objective on ARM from $118.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $154.67.

ARM Stock Down 0.6 %

ARM stock traded down $0.65 on Thursday, hitting $115.87. The company's stock had a trading volume of 5,356,356 shares, compared to its average volume of 7,095,969. The company has a fifty day moving average price of $110.45 and a 200-day moving average price of $132.09. ARM has a one year low of $80.00 and a one year high of $188.75. The firm has a market cap of $121.41 billion, a P/E ratio of 152.46, a price-to-earnings-growth ratio of 6.33 and a beta of 4.39.

ARM (NASDAQ:ARM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. ARM had a return on equity of 11.94% and a net margin of 21.82%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company earned $0.36 EPS. ARM's revenue was up 33.7% on a year-over-year basis. Analysts anticipate that ARM will post 0.9 EPS for the current year.

Hedge Funds Weigh In On ARM

Several hedge funds have recently made changes to their positions in ARM. Goldman Sachs Group Inc. raised its holdings in ARM by 59.3% during the first quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company's stock worth $702,129,000 after acquiring an additional 2,446,224 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of ARM by 17.9% in the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company's stock valued at $376,782,000 after buying an additional 464,719 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in ARM by 48.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company's stock worth $327,088,000 after buying an additional 860,716 shares during the last quarter. FMR LLC lifted its stake in ARM by 6.4% in the fourth quarter. FMR LLC now owns 2,199,197 shares of the company's stock valued at $271,293,000 after acquiring an additional 133,034 shares during the last quarter. Finally, Sustainable Growth Advisers LP acquired a new stake in ARM in the first quarter valued at $170,287,000. 7.53% of the stock is owned by institutional investors.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.