ARM (NASDAQ:ARM) Price Target Raised to $140.00 at Susquehanna

ARM (NASDAQ:ARM) had its target price hoisted by equities research analysts at Susquehanna from $118.00 to $140.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s price objective suggests a potential downside of 21.91% from the stock’s previous close.

Several other brokerages have also recently weighed in on ARM. Evercore ISI upped their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Loop Capital lifted their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group raised their price target on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group assumed coverage on shares of ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 price objective for the company. Finally, Barclays upped their price target on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued 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 target price of $152.09.

ARM Price Performance

Shares of NASDAQ:ARM traded up $24.09 during trading on Wednesday, reaching $179.29. 20,697,266 shares of the company were exchanged, compared to its average volume of 5,921,450. The firm has a market capitalization of $187.86 billion, a PE ratio of 298.46, a P/E/G ratio of 6.97 and a beta of 4.53. The business’s fifty day simple moving average is $137.82 and its 200-day simple moving average is $140.73. ARM has a 12-month low of $69.32 and a 12-month 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 business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. On average, sell-side analysts anticipate that ARM will post 0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. raised its stake in ARM by 5.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,532 shares of the company’s stock valued at $929,000 after purchasing an additional 362 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in ARM during the 4th quarter valued at about $471,000. Blue Trust Inc. lifted its stake in ARM by 13.6% in the 4th quarter. Blue Trust Inc. now owns 1,662 shares of the company’s stock worth $205,000 after purchasing an additional 199 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of ARM by 13.0% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 3,932 shares of the company’s stock worth $485,000 after purchasing an additional 453 shares during the last quarter. Finally, Juncture Wealth Strategies LLC grew its position in shares of ARM by 39.0% in the fourth quarter. Juncture Wealth Strategies LLC now owns 2,488 shares of the company’s stock valued at $307,000 after purchasing an additional 698 shares in the last quarter. Hedge funds and other institutional investors 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.