ARM (NASDAQ:ARM) Raised to “Strong-Buy” at TD Cowen

TD Cowen upgraded shares of ARM (NASDAQ:ARM) to a strong-buy rating in a research note published on Monday, Zacks.com reports.

Several other analysts have also recently commented on ARM. Daiwa America upgraded shares of ARM from a hold rating to a strong-buy rating in a research note on Thursday, August 8th. Rosenblatt Securities reissued a buy rating and set a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Benchmark began coverage on ARM in a report on Monday. They issued a hold rating on the stock. Sanford C. Bernstein raised ARM from an underperform rating to a market perform rating and increased their target price for the stock from $92.00 to $100.00 in a research note on Wednesday, August 7th. Finally, Loop Capital raised their price target on ARM from $120.00 to $130.00 and gave the company a buy rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $123.04.

ARM Stock Down 6.1 %

NASDAQ ARM opened at $138.40 on Monday. The business’s 50-day moving average price is $138.93 and its 200 day moving average price is $132.79. The firm has a market cap of $145.02 billion and a P/E ratio of 148.06. ARM has a 52-week low of $46.50 and a 52-week high of $188.75.

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

Institutional Investors Weigh In On ARM

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC acquired a new position in shares of ARM in the first quarter worth $25,000. Transcendent Capital Group LLC acquired a new position in ARM in the 2nd quarter valued at about $33,000. SOA Wealth Advisors LLC. purchased a new position in ARM in the 1st quarter valued at about $35,000. RiverPark Advisors LLC boosted its stake in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of ARM during the second quarter worth about $41,000. Hedge funds and other institutional investors 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.