ARM (NASDAQ:ARM) PT Raised to $169.00

ARM (NASDAQ:ARM) had its price target boosted by Guggenheim from $110.00 to $169.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock.

A number of other research firms have also commented on ARM. Susquehanna reaffirmed a “neutral” rating and set a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. New Street Research reiterated a “neutral” rating and set a $110.00 price objective on shares of ARM in a research note on Tuesday, February 27th. The Goldman Sachs Group increased their price objective on shares of ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Wells Fargo & Company increased their price objective on shares of ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, Sanford C. Bernstein increased their price objective on shares of ARM from $72.00 to $92.00 and gave the stock an “underperform” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of 103.68.

ARM Price Performance

Shares of ARM opened at 164.72 on Tuesday. The company’s 50-day moving average is 122.40 and its 200-day moving average is 109.50. ARM has a fifty-two week low of 46.50 and a fifty-two week high of 177.31.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, May 8th. The company reported 0.36 earnings per share for the quarter, beating the consensus estimate of 0.30 by 0.06. The company had revenue of 928.00 million for the quarter, compared to analyst estimates of 865.94 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. The company’s revenue was up 46.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 earnings per share. As a group, equities research analysts anticipate that ARM will post 0.85 EPS for the current fiscal year.

Institutional Trading of ARM

Several hedge funds have recently bought and sold shares of ARM. HighTower Advisors LLC acquired a new stake in ARM in the 3rd quarter valued at $266,000. Deutsche Bank AG purchased a new position in ARM during the 3rd quarter worth $1,790,000. PNC Financial Services Group Inc. purchased a new position in ARM during the 3rd quarter worth $55,000. Hsbc Holdings PLC purchased a new position in ARM during the 3rd quarter worth $219,000. Finally, PEAK6 Investments LLC purchased a new position in ARM during the 3rd quarter worth $568,000. Institutional investors and hedge funds 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.