ARM (NASDAQ:ARM) Stock Rating Lowered by BNP Paribas

ARM (NASDAQ:ARM) was downgraded by investment analysts at BNP Paribas from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, Briefing.com reports. They presently have a $100.00 target price on the stock.

Several other research firms have also issued reports on ARM. The Goldman Sachs Group lifted their price target on shares of ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. TD Cowen upped their target price on ARM from $80.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Evercore ISI started coverage on shares of ARM in a research report on Tuesday. They set an “outperform” rating and a $156.00 price target on the stock. New Street Research reiterated a “neutral” rating and set a $110.00 target price on shares of ARM in a research report on Tuesday, February 27th. Finally, Rosenblatt Securities lifted their price objective on ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of 90.28.

ARM Stock Performance

Shares of ARM stock opened at 104.92 on Friday. The company’s 50-day simple moving average is 129.00 and its two-hundred day simple moving average is 86.11. ARM has a one year low of 46.50 and a one year high of 164.00.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to the consensus estimate of 762.50 million. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts anticipate that ARM will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Several institutional investors have recently modified their holdings of ARM. Jennison Associates LLC boosted its holdings in ARM by 15.7% in the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock valued at $552,065,000 after purchasing an additional 994,551 shares during the period. Schroder Investment Management Group acquired a new stake in ARM during the fourth quarter worth approximately $480,194,000. FMR LLC purchased a new stake in shares of ARM during the 3rd quarter worth approximately $242,812,000. Wellington Management Group LLP boosted its holdings in shares of ARM by 56.4% in the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after buying an additional 1,611,926 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in shares of ARM in the 3rd quarter valued at $143,092,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.