ARM (NASDAQ:ARM) Given New $178.00 Price Target at Evercore ISI

ARM (NASDAQ:ARM) had its price objective boosted by Evercore ISI from $173.00 to $178.00 in a research note issued to investors on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. BNP Paribas raised shares of ARM from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $210.00 in a research report on Wednesday, July 16th. Benchmark reaffirmed a “hold” rating on shares of ARM in a research report on Monday, June 9th. UBS Group reduced their price target on shares of ARM from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Mizuho lifted their price target on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, July 3rd. Finally, Seaport Res Ptn raised shares of ARM to a “strong-buy” rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.52.

ARM Stock Performance

ARM opened at $154.70 on Thursday. The company’s 50 day simple moving average is $145.12 and its 200 day simple moving average is $130.98. ARM has a 1 year low of $80.00 and a 1 year high of $182.88. The stock has a market capitalization of $163.44 billion, a PE ratio of 234.39, a P/E/G ratio of 10.30 and a beta of 4.17.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts expect that ARM will post 0.9 earnings per share for the current fiscal year.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently made changes to their positions in ARM. Northern Trust Corp increased its stake in shares of ARM by 52.5% in the fourth quarter. Northern Trust Corp now owns 3,992 shares of the company’s stock worth $492,000 after buying an additional 1,375 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of ARM by 1.5% in the fourth quarter. Ameriprise Financial Inc. now owns 182,726 shares of the company’s stock worth $22,541,000 after buying an additional 2,626 shares during the last quarter. Deutsche Bank AG increased its stake in shares of ARM by 203.4% in the fourth quarter. Deutsche Bank AG now owns 204,499 shares of the company’s stock worth $25,227,000 after buying an additional 137,095 shares during the last quarter. Numerai GP LLC bought a new stake in shares of ARM in the fourth quarter worth $213,000. Finally, Nissay Asset Management Corp Japan ADV increased its stake in shares of ARM by 13.1% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 59,483 shares of the company’s stock worth $7,685,000 after buying an additional 6,905 shares during the last quarter. 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.