ARM (NASDAQ:ARM) Price Target Raised to $200.00

ARM (NASDAQ:ARM) had its price objective hoisted by equities research analysts at Citigroup from $170.00 to $200.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 15.43% from the company’s current price.

Several other research firms also recently issued reports on ARM. Jefferies Financial Group upped their price objective on ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday. Loop Capital upped their price target on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their price target on shares of ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI boosted their price objective on shares of ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised their target price on ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.17.

ARM Price Performance

Shares of ARM stock opened at $173.26 on Thursday. The company’s 50 day moving average price is $143.45 and its two-hundred day moving average price is $139.80. The firm has a market capitalization of $181.55 billion, a P/E ratio of 288.77, a P/E/G ratio of 7.46 and a beta of 4.56. ARM has a fifty-two week low of $71.80 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, analysts expect that ARM will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in shares of ARM during the second quarter valued at about $737,000. Park Avenue Securities LLC lifted its position in ARM by 8.6% in the 3rd quarter. Park Avenue Securities LLC now owns 2,780 shares of the company’s stock valued at $398,000 after acquiring an additional 221 shares in the last quarter. Brookstone Capital Management boosted its stake in ARM by 12.4% during the 3rd quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after purchasing an additional 156 shares during the last quarter. CWM LLC increased its holdings in ARM by 19.6% during the 3rd quarter. CWM LLC now owns 108,372 shares of the company’s stock worth $15,498,000 after purchasing an additional 17,769 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in shares of ARM by 14.0% in the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds 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.