ARM (NASDAQ:ARM) Price Target Raised to $202.00 at Evercore ISI

ARM (NASDAQ:ARM) had its target price hoisted by Evercore ISI from $176.00 to $202.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also commented on ARM. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research report on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Barclays boosted their price objective on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Susquehanna raised their target price on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $162.17.

ARM Price Performance

Shares of ARM stock opened at $167.47 on Thursday. ARM has a 1 year low of $72.25 and a 1 year high of $188.75. The stock has a market cap of $175.48 billion, a price-to-earnings ratio of 279.12, a PEG ratio of 7.46 and a beta of 4.56. The firm’s 50-day moving average is $143.45 and its two-hundred day moving average is $139.80.

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

Hedge Funds Weigh In On ARM

Institutional investors have recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in ARM in the third quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC lifted its position in shares of 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 buying an additional 117 shares in the last quarter. Quantbot Technologies LP purchased a new stake in ARM in the 3rd quarter worth $52,000. Berbice Capital Management LLC acquired a new position in ARM during the fourth quarter worth $49,000. Finally, Farther Finance Advisors LLC lifted its holdings in ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after purchasing 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.