ARM (NASDAQ:ARM) Price Target Raised to $175.00 at Raymond James

ARM (NASDAQ:ARM) had its target price upped by research analysts at Raymond James from $160.00 to $175.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target points to a potential upside of 1.00% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. TD Cowen raised their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Mizuho boosted their price target on ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday. Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a report on Thursday, October 31st. Finally, Evercore ISI upped 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. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $159.87.

ARM Stock Up 6.8 %

Shares of ARM stock opened at $173.26 on Thursday. The firm’s 50-day moving average price is $143.45 and its two-hundred day moving average price is $139.80. The company has a market capitalization of $181.55 billion, a price-to-earnings ratio of 288.77, a PEG ratio of 7.46 and a beta of 4.56. ARM has a 12-month low of $71.80 and a 12-month high of $188.75.

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

Institutional Trading of ARM

Several institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of ARM during the second quarter valued at approximately $737,000. Park Avenue Securities LLC grew its stake in ARM by 8.6% in the 3rd quarter. Park Avenue Securities LLC now owns 2,780 shares of the company’s stock valued at $398,000 after purchasing an additional 221 shares during the period. Brookstone Capital Management increased its position in shares of ARM by 12.4% during the 3rd quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after purchasing an additional 156 shares during the last quarter. CWM LLC raised its stake in shares of ARM by 19.6% during the 3rd quarter. CWM LLC now owns 108,372 shares of the company’s stock worth $15,498,000 after purchasing an additional 17,769 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of ARM by 14.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after buying an additional 77 shares during the last quarter. 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.