ARM (NASDAQ:ARM) Announces Earnings Results, Beats Estimates By $0.06 EPS

ARM (NASDAQ:ARM) released its earnings results on Wednesday. The company reported 0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.30 by 0.06, Briefing.com reports. The business had revenue of 928.00 million for the quarter, compared to analysts’ expectations of 865.94 million. During the same quarter in the previous year, the business posted $0.02 earnings per share. ARM’s revenue for the quarter was up 46.6% on a year-over-year basis.

ARM Trading Down 2.3 %

ARM stock traded down 2.48 during mid-day trading on Thursday, hitting 103.59. The company had a trading volume of 29,337,896 shares, compared to its average volume of 14,085,394. ARM has a 12-month low of 46.50 and a 12-month high of 164.00. The company’s fifty day moving average is 120.40 and its 200-day moving average is 90.99.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARM. BNP Paribas lowered ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research note on Friday, April 19th. Barclays lifted their target price on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. The Goldman Sachs Group boosted their target price on shares of ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company boosted their target price on ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Finally, Evercore ISI reduced their price objective on shares of ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, ARM currently has a consensus rating of “Hold” and a consensus price target of 91.64.

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.