TD Cowen Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM) had its price objective hoisted by TD Cowen from $150.00 to $165.00 in a research note published on Thursday, Marketbeat reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. William Blair assumed coverage on shares of ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Raymond James initiated coverage on shares of ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price target on the stock. Citigroup raised their price objective on ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Hsbc Global Res raised ARM to a “moderate sell” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $145.57.

ARM Stock Performance

Shares of ARM opened at $147.48 on Thursday. The firm has a market cap of $154.53 billion, a P/E ratio of 245.80, a PEG ratio of 6.59 and a beta of 5.40. ARM has a twelve month low of $49.82 and a twelve month high of $188.75. The firm’s 50 day moving average price is $142.32 and its two-hundred day moving average price is $138.01.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company’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 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

A number of institutional investors have recently made changes to their positions in the company. KP Management LLC boosted its stake in ARM by 28.6% in the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares during the period. Willner & Heller LLC boosted its position in shares of ARM by 193.7% in the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after acquiring an additional 4,484 shares during the period. Lazard Asset Management LLC increased its position in ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after acquiring an additional 20,117 shares during the period. United Advisor Group LLC bought a new position in ARM during the third quarter worth about $545,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in ARM by 156.3% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock valued at $3,011,000 after purchasing an additional 11,220 shares during the period. 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.