ARM (NASDAQ:ARM) Price Target Raised to $176.00

ARM (NASDAQ:ARM) had its target price increased by Evercore ISI from $173.00 to $176.00 in a research report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also recently weighed in on ARM. Deutsche Bank Aktiengesellschaft boosted their target price on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a report on Thursday, August 8th. Loop Capital increased their price objective on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Citigroup boosted their target price on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.57.

ARM Stock Performance

Shares of ARM stock opened at $147.48 on Thursday. The company has a market capitalization of $154.53 billion, a PE ratio of 245.80, a P/E/G ratio of 6.59 and a beta of 5.40. The company has a 50-day simple moving average of $142.32 and a two-hundred day simple moving average of $138.01. ARM has a one year low of $49.82 and a one year high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 14.14%. ARM’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. On average, equities analysts predict 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 made changes to their positions in the company. Moors & Cabot Inc. grew its position in ARM by 16.6% during the third quarter. Moors & Cabot Inc. now owns 2,420 shares of the company’s stock valued at $346,000 after buying an additional 345 shares during the period. Advisors Asset Management Inc. raised its position in shares of ARM by 147.2% in the third quarter. Advisors Asset Management Inc. now owns 2,652 shares of the company’s stock worth $379,000 after acquiring an additional 1,579 shares during the period. Commerce Bank purchased a new stake in shares of ARM during the 3rd quarter worth about $276,000. PNC Financial Services Group Inc. grew its position in shares of ARM by 29.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,992 shares of the company’s stock valued at $1,429,000 after acquiring an additional 2,256 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of ARM in the 3rd quarter valued at about $772,000. 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.