ARM (NASDAQ:ARM) Price Target Increased to $150.00 by Analysts at TD Cowen

ARM (NASDAQ:ARM) had its target price boosted by TD Cowen from $125.00 to $150.00 in a report published on Thursday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

ARM has been the topic of a number of other reports. BNP Paribas downgraded shares of ARM from an outperform rating to a neutral rating and set a $100.00 price target on the stock. in a research note on Friday, April 19th. Guggenheim boosted their price target on shares of ARM from $110.00 to $169.00 and gave the stock a buy rating in a report on Tuesday, June 25th. Hsbc Global Res upgraded shares of ARM to a moderate sell rating in a report on Monday. Bank of America boosted their price target on shares of ARM from $150.00 to $180.00 and gave the stock a buy rating in a report on Monday, June 17th. Finally, Evercore ISI lowered their price target on shares of ARM from $156.00 to $145.00 and set an outperform rating for the company in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of 118.80.

ARM Price Performance

ARM traded down 6.68 on Thursday, reaching 114.83. 2,698,067 shares of the company’s stock were exchanged, compared to its average volume of 12,827,138. The stock has a market cap of $120.32 billion and a PE ratio of 153.37. ARM has a twelve month low of 46.50 and a twelve month high of 188.75. The stock’s fifty day moving average price is 153.80 and its 200-day moving average price is 126.39.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, July 31st. The company reported 0.40 EPS for the quarter, topping analysts’ consensus estimates of 0.35 by 0.05. The company had revenue of 939.00 million for the quarter, compared to the consensus estimate of 905.53 million. ARM had a net margin of 12.12% and a return on equity of 19.58%. ARM’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. As a group, research analysts predict that ARM will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Several hedge funds have recently modified their holdings of ARM. Schroder Investment Management Group acquired a new stake in shares of ARM during the 4th quarter worth about $480,194,000. Mubadala Investment Co PJSC acquired a new stake in shares of ARM during the 4th quarter worth about $150,437,000. Wellington Management Group LLP grew its holdings in ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after purchasing an additional 1,611,926 shares during the period. Robeco Schweiz AG grew its holdings in ARM by 220.3% in the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after purchasing an additional 1,465,000 shares during the period. Finally, Jennison Associates LLC grew its holdings in ARM by 15.7% in the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock valued at $552,065,000 after purchasing an additional 994,551 shares during the period. 7.53% of the stock is owned by institutional investors and hedge funds.

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.