ARM (NASDAQ:ARM) Price Target Raised to $175.00 at Raymond James

ARM (NASDAQ:ARM) had its target price lifted by Raymond James from $160.00 to $175.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently weighed in on ARM. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday. TD Cowen upped their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on shares of ARM from $159.00 to $174.00 and gave the company a “buy” rating in a report on Thursday. Loop Capital increased their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, UBS Group assumed coverage on shares of ARM in a report on Monday, November 25th. They set a “buy” rating and a $160.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.17.

ARM Stock Performance

Shares of ARM stock opened at $167.47 on Thursday. The company has a market capitalization of $175.48 billion, a P/E ratio of 279.12, a P/E/G ratio of 7.46 and a beta of 4.56. The company has a fifty day moving average of $143.45 and a 200 day moving average of $139.80. ARM has a fifty-two week low of $72.25 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 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. Analysts forecast that ARM will post 0.84 EPS for the current year.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently modified their holdings of the business. Modus Advisors LLC boosted its stake in shares of ARM by 300.2% during the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after purchasing an additional 13,453 shares in the last quarter. KP Management LLC boosted its stake in shares of ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of ARM by 150.1% during the third quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock valued at $928,000 after purchasing an additional 3,893 shares in the last quarter. Willner & Heller LLC boosted its stake in shares of ARM by 193.7% during the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after purchasing an additional 4,484 shares in the last quarter. Finally, Avalon Global Asset Management LLC bought a new position in shares of ARM during the third quarter valued at approximately $8,581,000. 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.