ARM (NASDAQ:ARM) Given New $160.00 Price Target at JPMorgan Chase & Co.

ARM (NASDAQ:ARM) had its target price upped by JPMorgan Chase & Co. from $140.00 to $160.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft increased their target price on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Hsbc Global Res raised shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of ARM in a report on Thursday, August 1st. Evercore ISI boosted their target price on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Raymond James began coverage on ARM in a research note on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $145.57.

ARM Stock Down 2.2 %

ARM stock traded down $3.34 during trading hours on Thursday, hitting $147.31. 5,764,876 shares of the company traded hands, compared to its average volume of 10,918,804. The firm has a market cap of $154.36 billion, a P/E ratio of 377.73, a P/E/G ratio of 6.27 and a beta of 5.40. ARM has a 1-year low of $49.82 and a 1-year high of $188.75. The firm’s 50-day simple moving average is $142.03 and its two-hundred day simple moving average is $137.63.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter last year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts predict that ARM will post 0.86 earnings per share for the current year.

Institutional Trading of ARM

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of ARM by 29.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,992 shares of the company’s stock valued at $1,429,000 after buying an additional 2,256 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of ARM during the third quarter worth about $772,000. Banque Cantonale Vaudoise increased its stake in ARM by 94.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,865 shares of the company’s stock worth $553,000 after buying an additional 1,874 shares during the period. Claro Advisors LLC boosted its position in ARM by 16.6% in the 3rd quarter. Claro Advisors LLC now owns 2,051 shares of the company’s stock valued at $293,000 after buying an additional 292 shares during the period. Finally, LJI Wealth Management LLC acquired a new position in ARM during the 3rd quarter worth $629,000. Hedge funds and other institutional investors 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.