JPMorgan Chase & Co. Issues Positive Forecast for ARM (NASDAQ:ARM) Stock Price

ARM (NASDAQ:ARM) had its target price upped by JPMorgan Chase & Co. from $140.00 to $160.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 4.62% from the stock’s previous close.

ARM has been the subject of several other reports. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research note on Monday, July 29th. Evercore ISI raised their price objective on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of ARM in a research note on Thursday, August 1st. HSBC cut shares of ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Finally, TD Cowen increased their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.57.

ARM Stock Performance

Shares of NASDAQ:ARM traded up $8.26 during midday trading on Thursday, reaching $152.94. 12,435,567 shares of the company’s stock traded hands, compared to its average volume of 10,924,472. The stock has a 50 day moving average of $141.27 and a 200 day moving average of $137.49. The company has a market cap of $160.26 billion, a price-to-earnings ratio of 392.15, a P/E/G ratio of 6.45 and a beta of 5.40. ARM has a one year low of $49.82 and a one year high of $188.75.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. Sell-side analysts predict that ARM will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of large investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in ARM by 14,351.1% in 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 last quarter. Sei Investments Co. raised its holdings in shares of ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after buying an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares during the last quarter. Marsico Capital Management LLC purchased a new position in ARM during the 2nd quarter valued at $33,207,000. Finally, Zevenbergen Capital Investments LLC purchased a new stake in shares of ARM during the first quarter valued at $23,704,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.