ARM (NASDAQ:ARM) Posts Earnings Results, Misses Estimates By $0.10 EPS

ARM (NASDAQ:ARM) posted its earnings results on Wednesday. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.10), Zacks reports. ARM had a net margin of 18.13% and a return on equity of 13.69%.

ARM Stock Up 6.8 %

Shares of NASDAQ:ARM traded up $11.06 during midday trading on Wednesday, reaching $173.26. The company had a trading volume of 12,790,218 shares, compared to its average volume of 7,006,037. The stock has a market cap of $181.55 billion, a PE ratio of 288.77, a P/E/G ratio of 7.46 and a beta of 4.56. ARM has a 1-year low of $71.80 and a 1-year high of $188.75. The business’s 50 day moving average price is $142.65 and its 200 day moving average price is $139.57.

Wall Street Analysts Forecast Growth

ARM has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Susquehanna boosted their target price on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Finally, Barclays upped their target price on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ARM has a consensus rating of “Moderate Buy” and an average price target of $152.09.

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.