The Goldman Sachs Group Increases ARM (NASDAQ:ARM) Price Target to $159.00

ARM (NASDAQ:ARM) had its price objective lifted by The Goldman Sachs Group from $144.00 to $159.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 3.96% from the stock’s current price.

Several other brokerages have also weighed in on ARM. Hsbc Global Res raised ARM to a “moderate sell” rating in a research report on Monday, July 29th. Barclays upped their price target on ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $107.00 to $190.00 in a research note on Friday, July 19th. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. Finally, Benchmark initiated coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $145.57.

ARM Price Performance

NASDAQ:ARM traded up $8.26 during mid-day trading on Thursday, reaching $152.94. The company’s stock had a trading volume of 12,435,567 shares, compared to its average volume of 10,924,472. ARM has a twelve month low of $49.82 and a twelve month high of $188.75. The company’s fifty day simple moving average is $141.27 and its two-hundred day simple moving average is $137.49. The stock has a market cap of $160.26 billion, a P/E ratio of 392.15, a P/E/G ratio of 6.45 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. Sell-side analysts expect that ARM will post 0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after purchasing an additional 806,676 shares in the last quarter. Sei Investments Co. increased its holdings in ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after buying an additional 233,909 shares in the last quarter. Marsico Capital Management LLC bought a new position in ARM during the 2nd quarter worth approximately $33,207,000. Finally, Zevenbergen Capital Investments LLC acquired a new position in shares of ARM in the 1st quarter worth approximately $23,704,000. 7.53% of the stock is currently owned by institutional investors.

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.