Brokerages Set Arm Holdings plc (NASDAQ:ARM) Target Price at $121.24

Arm Holdings plc (NASDAQ:ARM) has earned an average rating of “Moderate Buy” from the twenty-eight research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $121.56.

ARM has been the subject of several research reports. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of ARM in a research note on Thursday, August 1st. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research note on Monday, July 29th. Sanford C. Bernstein upgraded shares of ARM from an “underperform” rating to a “market perform” rating and raised their price target for the company from $92.00 to $100.00 in a report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Finally, Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price on the stock in a research note on Thursday.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. RiverPark Advisors LLC lifted its holdings in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares during the last quarter. BOKF NA boosted its position in ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the period. Comerica Bank grew its stake in ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after buying an additional 103 shares during the last quarter. Naples Money Management LLC increased its position in ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after buying an additional 110 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in ARM by 2.9% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock valued at $645,000 after buying an additional 145 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Down 1.2 %

Shares of NASDAQ:ARM opened at $117.00 on Friday. The company has a market cap of $122.60 billion and a P/E ratio of 120.63. The business has a fifty day simple moving average of $153.07 and a 200-day simple moving average of $128.43. ARM has a 52 week low of $46.50 and a 52 week high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. During the same quarter in the prior year, the company posted $0.24 EPS. The company’s quarterly revenue was up 39.1% compared to the same quarter last year. Sell-side analysts expect that ARM will post 0.82 earnings per share for the current fiscal year.

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.