Guggenheim Raises ARM (NASDAQ:ARM) Price Target to $169.00

ARM (NASDAQ:ARM) had its target price hoisted by Guggenheim from $110.00 to $169.00 in a report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on ARM. Bank of America raised their price target on ARM from $150.00 to $180.00 and gave the company a buy rating in a research report on Monday, June 17th. KeyCorp lifted their target price on shares of ARM from $120.00 to $135.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Evercore ISI lowered their price target on shares of ARM from $156.00 to $145.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. The Goldman Sachs Group lifted their price objective on ARM from $110.00 to $143.00 and gave the stock a buy rating in a research report on Tuesday, June 11th. Finally, Sanford C. Bernstein increased their target price on ARM from $72.00 to $92.00 and gave the company an underperform rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of 103.68.

ARM Trading Up 1.3 %

NASDAQ ARM opened at 166.93 on Tuesday. The stock has a fifty day simple moving average of 123.54 and a 200-day simple moving average of 109.89. ARM has a twelve month low of 46.50 and a twelve month high of 177.31.

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

Institutional Trading of ARM

Hedge funds have recently bought and sold shares of the business. BOKF NA lifted its holdings in ARM by 33.3% during the first quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after acquiring an additional 100 shares during the period. Comerica Bank raised its stake in shares of ARM by 6.1% during the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC boosted its holdings in shares of 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 buying an additional 110 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC grew its position in ARM by 2.9% during 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 period. Finally, JTC Employer Solutions Trustee Ltd increased its holdings in ARM by 14.8% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 1,550 shares of the company’s stock worth $195,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.