ARM (NASDAQ:ARM) Research Coverage Started at Raymond James

Raymond James began coverage on shares of ARM (NASDAQ:ARM) in a report published on Friday morning, MarketBeat.com reports. The firm issued an outperform rating and a $160.00 target price on the stock.

Several other brokerages have also commented on ARM. Citigroup upped their target price on ARM from $150.00 to $170.00 and gave the company a buy rating in a research report on Thursday, August 1st. TD Cowen upped their price objective on shares of ARM from $125.00 to $150.00 and gave the company a buy rating in a report on Thursday, August 1st. HSBC downgraded ARM from a hold rating to a reduce rating in a research note on Monday, July 29th. Needham & Company LLC reaffirmed a hold rating on shares of ARM in a research note on Thursday, August 1st. Finally, Sanford C. Bernstein upgraded ARM from an underperform rating to a market perform rating and boosted their price objective for the company from $92.00 to $100.00 in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $123.04.

ARM Price Performance

ARM stock opened at $147.37 on Friday. The stock’s 50 day moving average is $139.85 and its 200 day moving average is $132.81. ARM has a one year low of $46.50 and a one year high of $188.75. The firm has a market cap of $154.42 billion and a P/E ratio of 148.06.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 earnings per share. Equities analysts anticipate that ARM will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC purchased a new stake in ARM in the first quarter valued at approximately $25,000. Transcendent Capital Group LLC purchased a new stake in ARM during the second quarter valued at about $33,000. RiverPark Advisors LLC raised its position in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares in the last quarter. Mather Group LLC. bought a new stake in ARM during the second quarter worth about $41,000. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of ARM in the 1st quarter worth about $35,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.