ARM (NASDAQ:ARM) Lifted to Market Perform at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of ARM (NASDAQ:ARM) from an underperform rating to a market perform rating in a research report report published on Wednesday, Marketbeat.com reports. Sanford C. Bernstein currently has $100.00 target price on the stock, up from their previous target price of $92.00.

A number of other research firms have also recently weighed in on ARM. Evercore ISI raised their price objective on shares of ARM from $145.00 to $173.00 and gave the stock an outperform rating in a report on Thursday, August 1st. BNP Paribas cut ARM from an outperform rating to a neutral rating and set a $100.00 target price on the stock. in a research report on Friday, April 19th. Wells Fargo & Company boosted their price objective on ARM from $100.00 to $115.00 and gave the company an overweight rating in a research note on Monday, April 29th. Hsbc Global Res upgraded shares of ARM to a moderate sell rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of ARM from $82.00 to $105.00 and gave the company a hold rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $121.56.

ARM Trading Down 1.2 %

Shares of NASDAQ:ARM opened at $117.00 on Wednesday. ARM has a 52 week low of $46.50 and a 52 week high of $188.75. The company’s 50 day moving average is $153.07 and its two-hundred day moving average is $128.43. The company has a market cap of $122.60 billion and a PE ratio of 120.63.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. ARM’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, equities research analysts expect that ARM will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ARM. Schroder Investment Management Group purchased a new position in ARM during the 4th quarter valued at about $480,194,000. Mubadala Investment Co PJSC purchased a new position in shares of ARM during the 4th quarter worth approximately $150,437,000. Wellington Management Group LLP raised its position in shares of ARM by 56.4% during the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after purchasing an additional 1,611,926 shares during the last quarter. Robeco Schweiz AG lifted its stake in ARM by 220.3% in the 4th quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after buying an additional 1,465,000 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in ARM by 15.7% during the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock valued at $552,065,000 after buying an additional 994,551 shares during the last quarter. Institutional investors and hedge funds 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.