ARM (NASDAQ:ARM) Downgraded to Neutral at BNP Paribas

BNP Paribas downgraded shares of ARM (NASDAQ:ARM) from an outperform rating to a neutral rating in a report issued on Friday morning, Marketbeat Ratings reports. BNP Paribas currently has $100.00 target price on the stock.

A number of other brokerages also recently commented on ARM. Mizuho raised their price objective on shares of ARM from $100.00 to $160.00 and gave the company a buy rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. raised their price objective on shares of ARM from $70.00 to $100.00 and gave the company an overweight rating in a research report on Thursday, February 8th. The Goldman Sachs Group raised their price objective on shares of ARM from $95.00 to $108.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Evercore ISI assumed coverage on shares of ARM in a research report on Tuesday. They issued an outperform rating and a $156.00 price objective for the company. Finally, Rosenblatt Securities raised their price objective on shares of ARM from $140.00 to $180.00 and gave the company a buy rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, ARM has a consensus rating of Hold and a consensus target price of 90.28.

ARM Price Performance

NASDAQ ARM opened at 87.19 on Friday. ARM has a 52-week low of 46.50 and a 52-week high of 164.00. The business’s 50-day moving average price is 128.44 and its 200 day moving average price is 86.35.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The company had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. ARM’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities analysts forecast that ARM will post 0.36 EPS for the current year.

Institutional Trading of ARM

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hoey Investments Inc. purchased a new stake in ARM in the 3rd quarter worth approximately $27,000. Centerpoint Advisors LLC purchased a new stake in ARM in the 3rd quarter worth approximately $32,000. Ancora Advisors LLC purchased a new stake in ARM in the 3rd quarter worth approximately $32,000. SOA Wealth Advisors LLC. purchased a new stake in ARM in the 1st quarter worth approximately $35,000. Finally, Bamco Inc. NY purchased a new stake in ARM in the 3rd quarter worth approximately $37,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.