ARM (NASDAQ:ARM) Price Target Raised to $180.00

ARM (NASDAQ:ARM) had its price target hoisted by Mizuho from $160.00 to $180.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Evercore ISI boosted their price target on shares of ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday. Susquehanna upped their target price on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. TD Cowen upped their target price on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their target price on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities upped their target price on shares of ARM from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average price target of $162.17.

ARM Stock Down 3.3 %

ARM stock opened at $167.47 on Thursday. The firm has a market cap of $175.48 billion, a PE ratio of 279.12, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56. ARM has a 52-week low of $72.25 and a 52-week high of $188.75. The company’s 50 day moving average is $143.45 and its two-hundred day moving average is $139.80.

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

Hedge Funds Weigh In On ARM

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its stake in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares during the period. International Assets Investment Management LLC raised its stake in ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares during the period. Raymond James Financial Inc. purchased a new position in ARM during the fourth quarter worth approximately $32,655,000. Finally, Rheos Capital Works Inc. raised its stake in shares of ARM by 29.6% in the 4th quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock valued at $30,211,000 after acquiring an additional 56,000 shares during the period. 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.