ARM (NASDAQ:ARM) Cut to Neutral at BNP Paribas

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

Several other equities research analysts also recently issued reports on ARM. Evercore ISI began coverage on ARM in a report on Tuesday. They issued an “outperform” rating and a $156.00 price objective on the stock. Daiwa Capital Markets lowered shares of ARM from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. Rosenblatt Securities raised their price target on shares of ARM from $140.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, February 26th. The Goldman Sachs Group upped their price objective on ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Barclays boosted their target price on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of 90.28.

ARM Stock Performance

Shares of ARM opened at 104.92 on Friday. The company’s 50-day moving average price is 129.00 and its 200 day moving average price is 86.11. ARM has a 12-month low of 46.50 and a 12-month high of 164.00.

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

Hedge Funds Weigh In On ARM

Hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. purchased a new position in ARM during the third quarter worth about $581,000. SG Americas Securities LLC bought a new position in ARM during the 3rd quarter valued at $170,000. Cedar Brook Financial Partners LLC acquired a new position in ARM during the 3rd quarter worth $206,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of ARM in the 3rd quarter valued at about $114,000. Finally, Rheos Capital Works Inc. bought a new position in shares of ARM during the third quarter worth about $4,817,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.