ARM (NASDAQ:ARM) Now Covered by Benchmark

Benchmark initiated coverage on shares of ARM (NASDAQ:ARM) in a report issued on Monday morning, Marketbeat reports. The firm issued a hold rating on the stock.

Other equities analysts have also recently issued reports about the company. Bank of America increased their price target on ARM from $150.00 to $180.00 and gave the stock a buy rating in a report on Monday, June 17th. Loop Capital increased their price target on ARM from $120.00 to $130.00 and gave the stock a buy rating in a report on Tuesday, August 6th. Evercore ISI raised their price objective on ARM from $145.00 to $173.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Daiwa Capital Markets raised ARM from a neutral rating to an outperform rating and set a $130.00 target price on the stock in a research report on Thursday, August 8th. Finally, Raymond James began coverage on shares of ARM in a report on Friday, September 13th. They issued an outperform rating and a $160.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $123.04.

ARM Stock Performance

NASDAQ:ARM opened at $138.36 on Monday. ARM has a 52 week low of $46.50 and a 52 week high of $188.75. The firm’s fifty day moving average is $137.06 and its 200-day moving average is $132.80. The firm has a market cap of $144.98 billion and a P/E ratio of 148.06.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business’s revenue was up 39.1% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. As a group, sell-side analysts anticipate that ARM will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in ARM in the 2nd quarter valued at about $737,000. NCP Inc. increased its stake in shares of ARM by 464.5% in the second quarter. NCP Inc. now owns 35,000 shares of the company’s stock worth $5,727,000 after purchasing an additional 28,800 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of ARM in the second quarter valued at approximately $387,000. Cetera Investment Advisers lifted its stake in shares of ARM by 42.2% during the 2nd quarter. Cetera Investment Advisers now owns 38,973 shares of the company’s stock valued at $6,377,000 after buying an additional 11,572 shares in the last quarter. Finally, 3Chopt Investment Partners LLC bought a new position in ARM in the 2nd quarter worth approximately $922,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.