BNP Paribas Lowers ARM (NASDAQ:ARM) to Neutral

BNP Paribas lowered shares of ARM (NASDAQ:ARM) from an outperform rating to a neutral rating in a research report report published on Friday, MarketBeat Ratings reports. The firm currently has $100.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. Evercore ISI initiated coverage on shares of ARM in a research report on Tuesday, April 16th. They set an outperform rating and a $156.00 target price for the company. Barclays increased their target price on shares of ARM from $65.00 to $105.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Daiwa Capital Markets lowered shares of ARM from a buy rating to a neutral rating and increased their target price for the stock from $63.00 to $130.00 in a research report on Friday, February 16th. Mizuho increased their target price on shares of ARM from $100.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Finally, 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. 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 company’s stock. According to MarketBeat.com, ARM presently has a consensus rating of Hold and an average target price of 90.28.

ARM Trading Up 6.8 %

Shares of ARM stock opened at 93.11 on Friday. The firm has a 50-day moving average of 127.32 and a 200-day moving average of 87.12. ARM has a one year low of 46.50 and a one year high of 164.00.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analysts’ expectations of 762.50 million. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts forecast that ARM will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. JTC Employer Solutions Trustee Ltd boosted its holdings in shares of ARM by 14.8% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 1,550 shares of the company’s stock valued at $195,000 after buying an additional 200 shares in the last quarter. SOA Wealth Advisors LLC. bought a new stake in shares of ARM during the 1st quarter valued at $35,000. PNC Financial Services Group Inc. boosted its holdings in shares of ARM by 47.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock valued at $115,000 after buying an additional 494 shares in the last quarter. Hoey Investments Inc. bought a new stake in shares of ARM during the 3rd quarter valued at $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ARM by 49.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock worth $117,000 after purchasing an additional 514 shares in the last quarter. 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.