ARM (NASDAQ:ARM) Price Target Raised to $160.00

ARM (NASDAQ:ARM) had its target price raised by stock analysts at JPMorgan Chase & Co. from $140.00 to $160.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 8.49% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday. HSBC lowered ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. William Blair assumed coverage on ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and an average target price of $145.57.

ARM Stock Down 2.1 %

ARM stock opened at $147.48 on Thursday. ARM has a 52 week low of $49.82 and a 52 week high of $188.75. The company has a market cap of $154.53 billion, a price-to-earnings ratio of 377.73, a PEG ratio of 6.27 and a beta of 5.40. The business has a fifty day simple moving average of $142.03 and a 200-day simple moving average of $137.63.

ARM (NASDAQ:ARM) last announced its quarterly 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 company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, analysts expect that ARM will post 0.86 earnings per share for the current fiscal year.

Institutional Trading of ARM

Several institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings 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 acquiring an additional 806,676 shares during the last quarter. Sei Investments Co. increased its stake in ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased 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 purchasing an additional 233,909 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ARM by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after buying an additional 14,584 shares during the last quarter. Finally, Mark Asset Management LP boosted its holdings in shares of ARM by 14.2% in the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after buying an additional 29,686 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.