ARM (NASDAQ:ARM) Given New $176.00 Price Target at Evercore ISI

ARM (NASDAQ:ARM) had its price target raised by Evercore ISI from $173.00 to $176.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on ARM. Raymond James started coverage on shares of ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price target on the stock. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 target price for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. TD Cowen lifted their price target on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Rosenblatt Securities restated a “buy” rating and set a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.57.

ARM Stock Performance

Shares of NASDAQ:ARM traded down $3.34 during trading on Thursday, reaching $147.31. The stock had a trading volume of 5,764,876 shares, compared to its average volume of 10,918,804. ARM has a 1-year low of $49.82 and a 1-year high of $188.75. The stock has a market cap of $154.36 billion, a PE ratio of 377.73, a PEG ratio of 6.27 and a beta of 5.40. The business has a fifty day moving average price of $142.03 and a 200-day moving average price of $137.63.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ARM. PNC Financial Services Group Inc. grew its stake in shares of ARM by 29.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,992 shares of the company’s stock worth $1,429,000 after purchasing an additional 2,256 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of ARM during the 3rd quarter valued at about $772,000. Banque Cantonale Vaudoise raised its position in shares of ARM by 94.1% in the third quarter. Banque Cantonale Vaudoise now owns 3,865 shares of the company’s stock valued at $553,000 after purchasing an additional 1,874 shares during the period. Claro Advisors LLC increased its stake in shares of ARM by 16.6% in the third quarter. Claro Advisors LLC now owns 2,051 shares of the company’s stock worth $293,000 after purchasing an additional 292 shares during the period. Finally, LJI Wealth Management LLC bought a new stake in ARM in the 3rd quarter valued at $629,000. Institutional investors own 7.53% of the company’s stock.

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.