Brokerages Set Arm Holdings plc (NASDAQ:ARM) PT at $121.24

Arm Holdings plc (NASDAQ:ARM) has been given an average rating of “Moderate Buy” by the twenty-eight research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $121.56.

A number of research analysts have recently commented on ARM shares. The Goldman Sachs Group upped their price target on ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Evercore ISI increased their price target on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Loop Capital upped their price objective on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Citigroup lifted their target price on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. RiverPark Advisors LLC grew its holdings in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares during the last quarter. BOKF NA lifted its position in shares of ARM by 33.3% during the first quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares in the last quarter. Comerica Bank grew its stake in shares of ARM by 6.1% during the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares during the last quarter. Naples Money Management LLC increased its holdings in shares of ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after purchasing an additional 110 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC raised its position in ARM by 2.9% in the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after purchasing an additional 145 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Price Performance

ARM stock opened at $117.00 on Friday. ARM has a fifty-two week low of $46.50 and a fifty-two week high of $188.75. The firm has a fifty day moving average price of $153.07 and a two-hundred day moving average price of $128.43. The firm has a market cap of $122.60 billion and a price-to-earnings ratio of 120.63.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping 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 period in the previous year, the company posted $0.24 earnings per share. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. As a group, sell-side analysts expect that ARM will post 0.82 earnings per share for the current year.

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.