Shares of Arm Holdings PLC (NASDAQ: ARM) climbed in early trading on Thursday after rising in the premarket session.
Arm Holdings announced its fiscal third-quarter results amid an exciting earnings season. Here are some key analyst takeaways from the release.
Mizuho Securities analyst Vijay Rakesh maintained a Buy rating, while raising the price target from $85 to $100.
JPMorgan analyst Harlan Sur reiterated an Overweight rating, while lifting the price target from $70 to $100.
BofA Securities analyst Vivek Arya reiterated a Buy rating, while raising the price target from $80 to $110.
KeyBanc Capital Markets analyst John Vinh reaffirmed an Overweight rating, while raising the price target from $75 to $120.
Goldman Sachs analyst Toshiya Hari maintained a Buy rating and price target of $95.
Needham analyst Charles Shi reiterated a Hold Outperform rating on the stock.
Check out other analyst stock ratings.
Mizuho Securities: Arm reported strong quarterly results and guided to a stronger March quarter, “with next generation-v9 platform adoption and strong cloud growth,” Rakesh said in a note.
The company’s Royalty revenues came in at $470 million, beating the consensus estimate of $449 million, the analyst stated. “Strong top-line acceleration with new v9 we estimate driving C2024E smartphone/PC client to 38% y/y, and cloud compute (GH200/Cobalt) revenues up 66% y/y,” he added.
JPMorgan: Arm delivered another quarter “driven by the acceleration of chip design activity and focus on accelerated compute/AI,” Sur wrote in a note.
“The rise/adoption of accelerated compute/AI workloads in the datacenter, edge, and endpoints is driving the requirement for significantly more compute capability and power efficiency per device and motivating ARM’s customer to adopt their highest performance compute IP and host of other IP building blocks which is driving higher levels of licensing activity,” the analyst stated. He added that the transition from ARMv8 to ARMv9 in customer chip designs is driving higher royalty rates and all these factors are “creating a strong growth profile for ARM’s licensing and royalty segments.”
BofA Securities: Arm reported “solid” results for the fiscal third quarter, with sales of $824 million, up 14% year-over-year and 8% ahead of Street…
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