TD Cowen Increases ARM (NASDAQ:ARM) Price Target to $150.00

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

A number of other equities research analysts also recently issued reports on ARM. Sanford C. Bernstein increased their price objective on shares of ARM from $72.00 to $92.00 and gave the stock an underperform rating in a research note on Thursday, May 16th. BNP Paribas cut shares of ARM from an outperform rating to a neutral rating and set a $100.00 target price for the company. in a report on Friday, April 19th. The Goldman Sachs Group boosted their target price 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. Evercore ISI lowered their target price on ARM from $156.00 to $145.00 and set an outperform rating for the company in a report on Thursday, May 9th. Finally, Guggenheim boosted their price target on ARM from $110.00 to $169.00 and gave the stock a buy rating in a report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of 118.80.

ARM Stock Performance

ARM traded down 9.70 on Thursday, hitting 103.75. 2,842,121 shares of the company were exchanged, compared to its average volume of 12,836,540. The company has a market cap of $108.71 billion and a PE ratio of 129.27. ARM has a 12 month low of 46.50 and a 12 month high of 188.75. The stock’s fifty day moving average is 153.78 and its 200-day moving average is 127.51.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported 0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.35 by 0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of 939.00 million for the quarter, compared to analyst estimates of 905.53 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. As a group, equities research analysts expect that ARM will post 0.82 EPS for the current fiscal 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 purchased a new stake in ARM during the 1st quarter valued at approximately $25,000. Transcendent Capital Group LLC purchased a new position in shares of ARM in the second quarter valued at $33,000. SOA Wealth Advisors LLC. bought a new stake in shares of ARM in the 1st quarter worth about $35,000. RiverPark Advisors LLC lifted its stake in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in shares of ARM in the 2nd quarter worth approximately $41,000. 7.53% of the stock is owned by institutional investors.

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.