ARM (NASDAQ:ARM) Given New $180.00 Price Target at Loop Capital

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

Other analysts have also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Benchmark started coverage on shares of ARM in a research report on Monday, September 16th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of ARM in a report on Thursday, August 1st. Finally, Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $107.00 to $190.00 in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus target price of $147.95.

ARM Price Performance

Shares of NASDAQ:ARM opened at $135.09 on Monday. ARM has a one year low of $52.28 and a one year high of $188.75. The company has a market cap of $141.55 billion, a price-to-earnings ratio of 227.85, a PEG ratio of 6.39 and a beta of 5.40. The firm has a 50 day simple moving average of $142.83 and a 200 day simple moving average of $139.15.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 13.69% and a net margin of 18.13%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. As a group, analysts expect that ARM will post 0.86 EPS for the current year.

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently modified their holdings of the company. Freedom Investment Management Inc. grew its position in ARM by 25.0% in the 3rd quarter. Freedom Investment Management Inc. now owns 6,425 shares of the company’s stock valued at $919,000 after purchasing an additional 1,285 shares during the period. Quantbot Technologies LP acquired a new position in shares of ARM during the third quarter valued at about $52,000. D.A. Davidson & CO. grew its holdings in shares of ARM by 121.6% during the third quarter. D.A. Davidson & CO. now owns 9,231 shares of the company’s stock valued at $1,320,000 after buying an additional 5,065 shares during the last quarter. West Tower Group LLC bought a new stake in shares of ARM during the third quarter worth about $215,000. Finally, Bank of Montreal Can raised its holdings in shares of ARM by 5.6% in the 3rd quarter. Bank of Montreal Can now owns 36,452 shares of the company’s stock worth $5,307,000 after acquiring an additional 1,925 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

About ARM

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.