ARM (NASDAQ:ARM) Issues Quarterly Earnings Results

ARM (NASDAQ:ARM) released its quarterly earnings results on Wednesday. The company reported 0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of 0.30 by 0.06, Briefing.com reports. The firm had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. The firm’s revenue 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 Price Performance

Shares of ARM stock traded down 1.94 during trading on Thursday, reaching 104.13. 27,903,341 shares of the company’s stock were exchanged, compared to its average volume of 14,066,203. ARM has a 1-year low of 46.50 and a 1-year high of 164.00. The firm’s 50-day moving average price is 120.96 and its 200 day moving average price is 90.88.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $180.00 target price on shares of ARM in a report on Monday. Susquehanna reaffirmed a “neutral” rating and set a $85.00 price objective on shares of ARM in a report on Thursday, April 4th. Evercore ISI dropped their price target on shares of ARM from $156.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday. KeyCorp upped their price objective on ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Mizuho lifted their price objective on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, ARM presently has an average rating of “Hold” and a consensus target price of 91.64.

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.