Loop Capital Increases ARM (NASDAQ:ARM) Price Target to $130.00

ARM (NASDAQ:ARM) had its price target raised by equities research analysts at Loop Capital from $120.00 to $130.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 21.39% from the company’s previous close.

A number of other brokerages have also weighed in on ARM. BNP Paribas lowered ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a research note on Friday, April 19th. Wells Fargo & Company boosted their target price on shares of ARM from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. KeyCorp increased their price target on shares of ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Hsbc Global Res raised ARM to a “moderate sell” rating in a report on Monday, July 29th. Finally, Evercore ISI lifted their target price on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.56.

ARM Stock Down 5.6 %

Shares of ARM stock opened at $107.09 on Tuesday. ARM has a 12-month low of $46.50 and a 12-month high of $188.75. The stock has a market capitalization of $112.21 billion and a P/E ratio of 129.27. The company has a 50-day simple moving average of $153.19 and a 200 day simple moving average of $127.86.

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

Institutional Investors Weigh In On ARM

Institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its holdings in shares of ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after purchasing an additional 20,117 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in ARM in the 4th quarter valued at approximately $665,000. Rheos Capital Works Inc. boosted its position in ARM by 48.1% during the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after acquiring an additional 83,400 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of ARM during the 1st quarter worth approximately $222,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of ARM in the first quarter valued at approximately $2,620,000. 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.