ARM (NASDAQ:ARM) Stock Price Expected to Rise, TD Cowen Analyst Says

ARM (NASDAQ:ARM) had its price objective boosted by analysts at TD Cowen from $155.00 to $175.00 in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 27.20% from the stock’s current price.

A number of other research analysts have also issued reports on the company. Barclays decreased their target price on ARM from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, May 8th. JPMorgan Chase & Co. cut their target price on shares of ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. BNP Paribas Exane upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Wednesday, July 16th. Finally, Mizuho lifted their price objective on ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and an average target price of $167.86.

ARM Price Performance

ARM opened at $137.58 on Thursday. The firm has a fifty day moving average price of $147.01 and a 200 day moving average price of $134.49. ARM has a 1 year low of $80.00 and a 1 year high of $182.88. The stock has a market cap of $145.35 billion, a P/E ratio of 208.45, a P/E/G ratio of 8.09 and a beta of 4.17.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. ARM had a net margin of 16.96% and a return on equity of 15.56%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts expect that ARM will post 0.9 EPS 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 ARM. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of ARM in the 2nd quarter valued at $39,000. Brooklyn Investment Group purchased a new position in ARM during the 1st quarter valued at about $28,000. GeoWealth Management LLC grew its position in ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after acquiring an additional 92 shares in the last quarter. TFC Financial Management Inc. increased its stake in ARM by 163.4% during the first quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 165 shares during the period. Finally, ORG Partners LLC acquired a new stake in shares of ARM during the second quarter worth about $48,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

About ARM

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.