ARM (NASDAQ:ARM) Price Target Raised to $176.00

ARM (NASDAQ:ARM) had its target price hoisted by Evercore ISI from $173.00 to $176.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 21.65% from the company’s previous close.

Other analysts have also issued reports about the company. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Citigroup increased their price objective on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a report on Thursday, October 31st. Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a report on Thursday, August 8th. Finally, HSBC lowered ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.43.

ARM Stock Up 2.9 %

ARM opened at $144.68 on Thursday. The firm has a market cap of $151.60 billion, a PE ratio of 370.97, a P/E/G ratio of 6.45 and a beta of 5.40. The business has a fifty day simple moving average of $141.27 and a 200-day simple moving average of $137.49. ARM has a fifty-two week low of $49.82 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. On average, equities research analysts anticipate that ARM will post 0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Large investors have recently bought and sold shares of the business. KP Management LLC grew its position in ARM by 28.6% during the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after acquiring an additional 10,000 shares during the last quarter. Willner & Heller LLC grew its position in ARM by 193.7% during the 3rd quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock worth $972,000 after acquiring an additional 4,484 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in ARM by 393.0% during the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after buying an additional 20,117 shares in the last quarter. United Advisor Group LLC acquired a new position in ARM during the 3rd quarter worth $545,000. Finally, Mizuho Securities Co. Ltd. lifted its holdings in ARM by 156.3% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after buying an additional 11,220 shares in the last quarter. 7.53% of the stock is currently owned by 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.