ARM (NASDAQ:ARM) Price Target Raised to $176.00 at Evercore ISI

ARM (NASDAQ:ARM) had its target price boosted by Evercore ISI from $173.00 to $176.00 in a research note issued to investors on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

ARM has been the topic of several other reports. Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a report on Thursday, August 8th. Citigroup raised their price target on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. TD Cowen raised their target price on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $107.00 to $190.00 in a research note on Friday, July 19th. Finally, Barclays increased their price target on ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two equities 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’s stock. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average price target of $145.57.

ARM Trading Down 2.2 %

ARM traded down $3.34 during midday trading on Thursday, reaching $147.31. The company’s stock had a trading volume of 5,764,876 shares, compared to its average volume of 10,918,804. The firm has a market capitalization of $154.36 billion, a price-to-earnings ratio of 377.73, a PEG ratio of 6.27 and a beta of 5.40. ARM has a 1 year low of $49.82 and a 1 year high of $188.75. The stock’s 50-day moving average is $142.03 and its 200-day moving average is $137.63.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. As a group, equities research analysts forecast that ARM will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC grew its position in ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after acquiring an additional 806,676 shares in the last quarter. Sei Investments Co. boosted its stake in shares of 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $36,366,000 after buying an additional 14,584 shares in the last quarter. Finally, Mark Asset Management LP raised its stake in ARM by 14.2% in the second 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 last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.