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

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

ARM has been the topic of several other reports. HSBC downgraded shares of ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a report on Thursday, October 31st. TD Cowen upped their price target on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday. William Blair initiated coverage on ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, Susquehanna upped their target price on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.57.

ARM Trading Down 2.1 %

Shares of NASDAQ ARM opened at $147.48 on Thursday. The stock has a market capitalization of $154.53 billion, a PE 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 stock has a fifty day simple moving average of $142.32 and a 200-day simple moving average of $138.30.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a return on equity of 14.14% 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 previous year, the company posted $0.36 EPS. On average, equities analysts predict that ARM will post 0.86 earnings per share for the current year.

Institutional Investors Weigh In On ARM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moors & Cabot Inc. grew its position in shares of ARM by 16.6% during the third quarter. Moors & Cabot Inc. now owns 2,420 shares of the company’s stock worth $346,000 after acquiring an additional 345 shares during the last quarter. Advisors Asset Management Inc. grew its position in ARM by 147.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,652 shares of the company’s stock worth $379,000 after purchasing an additional 1,579 shares during the last quarter. Commerce Bank acquired a new position in ARM in the third quarter valued at $276,000. PNC Financial Services Group Inc. raised its holdings in shares of ARM by 29.2% in the third quarter. PNC Financial Services Group Inc. now owns 9,992 shares of the company’s stock valued at $1,429,000 after buying an additional 2,256 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of ARM during the third quarter worth about $772,000. Hedge funds and other 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.