ARM (NASDAQ:ARM) Price Target Raised to $173.00

ARM (NASDAQ:ARM) had its price target lifted by Evercore ISI from $145.00 to $173.00 in a research note released on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Bank of America boosted their price objective on shares of ARM from $150.00 to $180.00 and gave the company a buy rating in a report on Monday, June 17th. TD Cowen boosted their price objective on shares of ARM from $125.00 to $150.00 and gave the company a buy rating in a report on Thursday. Hsbc Global Res upgraded shares of ARM to a moderate sell rating in a report on Monday, July 29th. The Goldman Sachs Group upped their price target on shares of ARM from $110.00 to $143.00 and gave the company a buy rating in a report on Tuesday, June 11th. Finally, Barclays upped their price target on shares of ARM from $105.00 to $125.00 and gave the company an overweight rating in a report on Thursday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ARM currently has an average rating of Hold and an average price target of 118.80.

ARM Price Performance

Shares of NASDAQ:ARM opened at 113.45 on Thursday. ARM has a one year low of 46.50 and a one year high of 188.75. The company has a 50 day moving average of 153.78 and a 200-day moving average of 127.51. The stock has a market cap of $118.88 billion and a price-to-earnings ratio of 129.27.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported 0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of 0.35 by 0.05. The firm had revenue of 939.00 million during the quarter, compared to analysts’ expectations of 905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. Equities research analysts anticipate that ARM will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Several large investors have recently modified their holdings of ARM. Schroder Investment Management Group bought a new position in shares of ARM in the fourth quarter valued at about $480,194,000. Mubadala Investment Co PJSC bought a new position in shares of ARM in the fourth quarter valued at about $150,437,000. Wellington Management Group LLP raised its position in shares of ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after purchasing an additional 1,611,926 shares during the period. Robeco Schweiz AG raised its position in shares of ARM by 220.3% in the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after purchasing an additional 1,465,000 shares during the period. Finally, Jennison Associates LLC increased its position in ARM by 15.7% during the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after acquiring an additional 994,551 shares during the period. 7.53% of the stock is 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.