TD Cowen Upgrades ARM (NASDAQ:ARM) to “Strong-Buy”

ARM (NASDAQ:ARM) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

ARM has been the topic of several other reports. Hsbc Global Res upgraded ARM to a “moderate sell” rating in a research report on Monday, July 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of ARM in a report on Thursday, August 1st. Citigroup upped their price target on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays raised their price objective on shares of ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $123.04.

ARM Stock Down 6.1 %

Shares of ARM opened at $138.40 on Monday. The firm has a market capitalization of $145.02 billion and a PE ratio of 148.06. The firm has a 50-day moving average price of $138.93 and a 200 day moving average price of $132.79. ARM has a 52-week low of $46.50 and a 52-week high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. During the same period last year, the firm posted $0.24 earnings per share. The business’s revenue was up 39.1% on a year-over-year basis. On average, equities analysts expect that ARM will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC bought a new stake in ARM during the 4th quarter valued at approximately $226,000. Principal Securities Inc. bought a new stake in shares of ARM in the fourth quarter valued at approximately $116,000. Janney Montgomery Scott LLC grew its stake in shares of ARM by 179.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,468 shares of the company’s stock worth $2,665,000 after acquiring an additional 22,763 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in ARM during the fourth quarter worth $205,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in ARM by 42.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,210 shares of the company’s stock valued at $1,669,000 after purchasing an additional 6,571 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.