ARM Holdings plc Receives Consensus Rating of “Buy” from Brokerages (NASDAQ:ARMH)

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Shares of ARM Holdings plc (NASDAQ:ARMH) have been given a consensus recommendation of “Buy” by the thirty ratings firms that are presently covering the company, AnalystRatings.NET reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $48.29.

A number of research firms have recently commented on ARMH. Analysts at Credit Suisse reiterated an “outperform” rating on shares of ARM Holdings plc in a research note on Tuesday. Separately, analysts at BNP Paribas reiterated a “neutral” rating on shares of ARM Holdings plc in a research note on Monday, June 16th. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of ARM Holdings plc in a research note on Tuesday, June 10th. They now have a $45.59 price target on the stock, down previously from $60.00.

ARM Holdings plc (NASDAQ:ARMH) opened at 45.125 on Wednesday. ARM Holdings plc has a 52-week low of $36.00 and a 52-week high of $55.26. The stock’s 50-day moving average is $45.25 and its 200-day moving average is $48.03. The company has a market cap of $21.193 billion and a price-to-earnings ratio of 110.12.

ARM Holdings plc (NASDAQ:ARMH) last released its earnings data on Wednesday, April 23rd. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.01. The company had revenue of $186.70 million for the quarter, compared to the consensus estimate of $185.65 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that ARM Holdings plc will post $1.20 EPS for the current fiscal year.

ARM Holdings plc (NASDAQ:ARMH) designs microprocessors, physical intellectual property (IP) and related technology and software, and sells development tools.

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