ARM (NASDAQ:ARM) PT Raised to $180.00

ARM (NASDAQ:ARM) had its price objective raised by Bank of America from $150.00 to $180.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently issued reports on ARM. Evercore ISI lowered their price objective on shares of ARM from $156.00 to $145.00 and set an outperform rating for the company in a research report on Thursday, May 9th. The Goldman Sachs Group raised their price objective on ARM from $110.00 to $143.00 and gave the stock a buy rating in a research note on Tuesday, June 11th. Needham & Company LLC restated a hold rating on shares of ARM in a research note on Thursday, May 9th. Mizuho raised their price objective on ARM from $100.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Finally, Rosenblatt Securities restated a buy rating and set a $180.00 price objective on shares of ARM in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of 99.48.

ARM Trading Down 7.7 %

Shares of ARM stock opened at 160.77 on Monday. ARM has a 1-year low of 46.50 and a 1-year high of 177.31. The firm’s 50-day simple moving average is 120.37 and its 200-day simple moving average is 106.90.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, May 8th. The company reported 0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. The firm had revenue of 928.00 million during the quarter, compared to the consensus estimate of 865.94 million. ARM had a net margin of 9.46% and a return on equity of 16.94%. The company’s revenue was up 46.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. On average, equities research analysts forecast that ARM will post 0.85 EPS for the current year.

Hedge Funds Weigh In On ARM

A number of institutional investors have recently bought and sold shares of ARM. Mark Sheptoff Financial Planning LLC acquired a new stake in ARM during the 1st quarter worth about $25,000. Ancora Advisors LLC acquired a new stake in ARM during the 3rd quarter worth about $32,000. SOA Wealth Advisors LLC. acquired a new stake in ARM during the 1st quarter worth about $35,000. Bamco Inc. NY acquired a new stake in ARM during the 3rd quarter worth about $37,000. Finally, Naples Money Management LLC boosted its position in ARM by 47.8% during the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after acquiring an additional 110 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.