ARM (NASDAQ:ARM) Price Target Raised to $160.00

ARM (NASDAQ:ARM) had its target price raised by JPMorgan Chase & Co. from $140.00 to $160.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday. Morgan Stanley raised shares of ARM from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $107.00 to $190.00 in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 target price on shares of ARM in a report on Thursday, August 1st. Finally, Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.57.

ARM Price Performance

Shares of ARM opened at $147.48 on Thursday. The firm has a 50-day simple moving average of $142.32 and a two-hundred day simple moving average of $138.01. ARM has a 1-year low of $49.82 and a 1-year high of $188.75. The stock has a market cap of $154.53 billion, a PE ratio of 245.80, a P/E/G ratio of 6.59 and a beta of 5.40.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 14.14% and a net margin of 18.13%. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that ARM will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARM. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of ARM during the 1st quarter worth $25,000. ORG Partners LLC acquired a new stake in shares of ARM in the third quarter valued at about $29,000. Transcendent Capital Group LLC purchased a new stake in ARM during the second quarter worth about $33,000. Gilliland Jeter Wealth Management LLC grew its position in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares during the period. Finally, RiverPark Advisors LLC increased its holdings in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares in the last quarter. Institutional investors and hedge funds 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.