ARM Holdings (NASDAQ:ARMH) Receives a Downgrade
New York-listed ARM Holdings (NASDAQ:ARMH), was cut by analysts at Northland Capital. They cut their rating on the $23.75 billion market cap company to a Market Perform from their past Outperform rating, but decided to keep their PT of $52 on ARMH.
From a total of 10 analysts covering ARM Holdings (NASDAQ:ARMH) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 83% of the ratings are positive. The highest target price is $64 while the lowest target price is $44. The mean of all analyst targets is $56.4 with a 666.34% above today’s ($50.77) stock price. ARM Holdings was the topic of 19 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. JMP Securities downgraded shares on December 2 to “Market Perform” rating. Citigroup maintained shares with “Buy” rating and $1160 target share price in a report from a September 16. Natixis downgraded ARMH stock in a recent report from September 29 to “Neutral” rating. Bank of America maintained the rating on August 27. Bank of America has a “Buy” rating and a $58 price target on shares. Finally, Beaufort Securities maintained the stock with “Buy” rating in a report issued on a September 16.
The stock increased 0.55% or $0.28 during the last trading session, striking $50.77. Approximately 1,200 shares of stock traded hands. ARM Holdings plc (ADR) (NASDAQ:ARMH) has declined 1.46% since May 4, 2015 and is downtrending. It has underperformed by 0.38% the S&P500.
ARM Holdings plc is a United Kingdom firm engaged in designing of microprocessors, physical intellectual property (IP) and related technology and software, and sale of development tools. The company has a market cap of $23.75 billion. The Company’s offers products, such as 16/32/64-bit RISC microprocessors, data engines, graphics processors, digital libraries, embedded memories, peripherals, software and development tools, as well as analog functions and high-speed connectivity products. It has 49.59 P/E ratio. The Company’s product offering includes microprocessor Cores, physical IP, development tools and support and maintenance services.
According to Zacks Investment Research, “ARM HOLDINGS designs high performance, low-cost, power-efficient RISC microprocessors and related technology and software, and sells development systems, to enhance the performance, cost-effectiveness and power-efficiency of an extensive range of embedded applications.(PRESS RELEASE)” Get a free copy of the Zacks research report on ARM Holdings plc (ADR) (ARMH).