ARM (NASDAQ:ARM) Lifted to “Strong-Buy” at TD Cowen

ARM (NASDAQ:ARM) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a report released on Monday, Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Bank of America upped their target price on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a report on Thursday, August 8th. Benchmark initiated coverage on shares of ARM in a research note on Monday. They set a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, August 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price target on shares of ARM in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.04.

ARM Stock Performance

NASDAQ ARM opened at $138.40 on Monday. The firm has a market capitalization of $145.02 billion and a price-to-earnings ratio of 148.06. ARM has a one year low of $46.50 and a one year high of $188.75. The company’s 50 day moving average price is $138.93 and its 200 day moving average price is $132.79.

ARM (NASDAQ:ARM) last issued its earnings results 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 business had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. During the same quarter last year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. Sell-side analysts forecast that ARM will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of large investors have recently bought and sold shares of the business. RiverPark Advisors LLC boosted its holdings in shares of ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the period. BOKF NA lifted its position in ARM by 33.3% in 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 last quarter. Comerica Bank boosted its stake in ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC grew its position in ARM by 47.8% in the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 145 shares during the period. Institutional investors own 7.53% of the company’s stock.

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.