ARM (NASDAQ:ARM) Raised to Strong-Buy at TD Cowen

TD Cowen upgraded shares of ARM (NASDAQ:ARM) to a strong-buy rating in a research report sent to investors on Monday morning, Zacks.com reports.

Several other brokerages also recently weighed in on ARM. Hsbc Global Res upgraded ARM to a moderate sell rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ARM from $82.00 to $105.00 and gave the company a hold rating in a research note on Thursday, August 1st. Evercore ISI upped their target price on shares of ARM from $145.00 to $173.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. HSBC downgraded ARM from a hold rating to a reduce rating in a report on Monday, July 29th. Finally, Needham & Company LLC reiterated a hold rating on shares of ARM in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM presently has an average rating of Moderate Buy and an average price target of $123.04.

ARM Price Performance

NASDAQ:ARM opened at $138.36 on Monday. The firm has a market capitalization of $144.98 billion and a P/E ratio of 148.06. ARM has a one year low of $46.50 and a one year high of $188.75. The company’s 50-day simple moving average is $137.06 and its 200 day simple moving average is $132.80.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. During the same period in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. On average, equities research analysts expect that ARM will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Large investors have recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of ARM in the first quarter worth $25,000. Transcendent Capital Group LLC purchased a new stake in ARM in the 2nd quarter worth $33,000. SOA Wealth Advisors LLC. bought a new stake in ARM during the first quarter valued at about $35,000. RiverPark Advisors LLC raised its holdings 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 acquiring an additional 77 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of ARM in the second quarter valued at about $41,000. Hedge funds and other 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.