ARM (NASDAQ:ARM) Price Target Raised to $140.00

ARM (NASDAQ:ARM) had its price objective lifted by Susquehanna from $118.00 to $140.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s target price points to a potential downside of 21.91% from the company’s previous close.

ARM has been the topic of several other research reports. Barclays boosted their price objective on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, January 17th. UBS Group started coverage on ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their target price on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price objective on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.09.

ARM Stock Performance

Shares of NASDAQ ARM traded up $24.09 during mid-day trading on Wednesday, reaching $179.29. 20,697,266 shares of the company’s stock were exchanged, compared to its average volume of 5,921,450. The company’s 50-day moving average is $137.82 and its 200-day moving average is $140.73. The firm has a market capitalization of $187.86 billion, a price-to-earnings ratio of 298.46, a PEG ratio of 6.97 and a beta of 4.53. ARM has a 52-week low of $69.32 and a 52-week high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the business posted $0.36 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that ARM will post 0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC purchased a new position in ARM in the 3rd quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC increased its holdings in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares in the last quarter. Quantbot Technologies LP acquired a new position in ARM during the third quarter worth about $52,000. Berbice Capital Management LLC purchased a new position in shares of ARM during the 4th quarter worth approximately $49,000. Finally, Farther Finance Advisors LLC lifted its stake in ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after buying an additional 131 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other 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.