ARM (NASDAQ:ARM) Upgraded by BNP Paribas to Strong-Buy Rating

ARM (NASDAQ:ARM) was upgraded by analysts at BNP Paribas from a “neutral” rating to a “strong-buy” rating in a research report issued on Wednesday, July 16th, Marketbeat Ratings reports. The firm presently has a $210.00 price target on the stock, up from their prior price target of $110.00. BNP Paribas’ price target suggests a potential upside of 34.19% from the stock’s current price.

ARM has been the topic of several other research reports. Guggenheim boosted their target price on ARM from $147.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, June 30th. KGI Securities began coverage on ARM in a research note on Tuesday, April 15th. They issued a “neutral” rating on the stock. Barclays cut their target price on ARM from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Cfra Research upgraded ARM to a “hold” rating in a report on Friday, March 21st. Finally, TD Cowen dropped their target price on ARM from $200.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.04.

ARM Stock Performance

Shares of ARM opened at $156.50 on Wednesday. The firm has a market capitalization of $165.34 billion, a price-to-earnings ratio of 208.67, a PEG ratio of 9.34 and a beta of 4.19. The business’s fifty day moving average price is $141.67 and its two-hundred day moving average price is $133.37. ARM has a 52 week low of $80.00 and a 52 week high of $182.88.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. ARM had a return on equity of 17.97% and a net margin of 19.76%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company earned $0.36 EPS. The firm’s revenue was up 33.7% on a year-over-year basis. As a group, research analysts forecast that ARM will post 0.9 EPS for the current year.

Institutional Trading of ARM

Several large investors have recently made changes to their positions in ARM. Goldman Sachs Group Inc. lifted its position in ARM by 59.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company’s stock valued at $702,129,000 after acquiring an additional 2,446,224 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in ARM in the 1st quarter valued at about $170,287,000. Artisan Partners Limited Partnership lifted its position in ARM by 48.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock valued at $327,088,000 after acquiring an additional 860,716 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in ARM by 3,853.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 520,465 shares of the company’s stock valued at $84,180,000 after acquiring an additional 507,300 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of ARM by 17.9% during the 4th quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock worth $376,782,000 after buying an additional 464,719 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.