Loop Capital Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM) had its price target increased by Loop Capital from $130.00 to $180.00 in a research report sent to investors on Monday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Several other research firms have also recently weighed in on ARM. TD Cowen upped their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Susquehanna lifted their target price on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their target price on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ARM has an average rating of “Moderate Buy” and a consensus target price of $147.95.

ARM Price Performance

ARM stock opened at $142.79 on Monday. The company has a 50 day moving average price of $142.50 and a 200 day moving average price of $138.88. The stock has a market capitalization of $149.62 billion, a PE ratio of 236.61, a price-to-earnings-growth ratio of 6.72 and a beta of 5.40. ARM has a fifty-two week low of $50.57 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. As a group, equities analysts expect that ARM will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Several large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake 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 purchasing an additional 806,676 shares in the last quarter. Sei Investments Co. increased its stake in ARM by 551.6% in the 2nd 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. increased its holdings 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 worth $52,279,000 after buying an additional 233,909 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ARM by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after acquiring an additional 14,584 shares during the period. Finally, Mark Asset Management LP boosted its holdings in shares of ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after acquiring an additional 29,686 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.