ARM (NASDAQ:ARM) Coverage Initiated by Analysts at William Blair

William Blair initiated coverage on shares of ARM (NASDAQ:ARM) in a research report report published on Wednesday, MarketBeat.com reports. The firm issued an outperform rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Sanford C. Bernstein upgraded shares of ARM from an underperform rating to a market perform rating and lifted their price objective for the company from $92.00 to $100.00 in a report on Wednesday, August 7th. Bank of America upped their price objective on ARM from $150.00 to $180.00 and gave the stock a buy rating in a research report on Monday, June 17th. Morgan Stanley upgraded ARM from an equal weight rating to an overweight rating and lifted their target price for the company from $107.00 to $190.00 in a report on Friday, July 19th. Raymond James assumed coverage on ARM in a report on Friday, September 13th. They set an outperform rating and a $160.00 price target on the stock. Finally, Loop Capital lifted their price objective on ARM from $120.00 to $130.00 and gave the company a buy rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $125.96.

ARM Stock Down 1.2 %

NASDAQ:ARM opened at $138.90 on Wednesday. ARM has a 52 week low of $46.50 and a 52 week high of $188.75. The stock’s fifty day moving average is $135.56 and its two-hundred day moving average is $132.85. The stock has a market capitalization of $145.54 billion and a price-to-earnings ratio of 145.57.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same quarter in the prior year, the company earned $0.24 EPS. ARM’s revenue was up 39.1% on a year-over-year basis. On average, sell-side analysts expect that ARM will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Hedge funds have recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of ARM during the first quarter worth about $25,000. Transcendent Capital Group LLC purchased a new stake in ARM during the 2nd quarter valued at approximately $33,000. RiverPark Advisors LLC lifted its position 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 period. Mather Group LLC. purchased a new position in shares of ARM in the 2nd quarter valued at approximately $41,000. Finally, SOA Wealth Advisors LLC. acquired a new position in shares of ARM in the first quarter valued at approximately $35,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.