ARM (NASDAQ:ARM) Price Target Raised to $155.00 at Barclays

ARM (NASDAQ:ARM) had its price objective upped by Barclays from $145.00 to $155.00 in a research note published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on ARM. TD Cowen lifted their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Sanford C. Bernstein downgraded ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.09.

ARM Stock Performance

Shares of NASDAQ ARM opened at $149.26 on Friday. ARM has a 1 year low of $69.32 and a 1 year high of $188.75. The firm has a market cap of $156.40 billion, a P/E ratio of 248.77, a PEG ratio of 6.57 and a beta of 4.53. The stock has a fifty day moving average price of $137.33 and a two-hundred day moving average price of $141.46.

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

Hedge Funds Weigh In On ARM

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares during the last quarter. Finally, Mark Asset Management LP raised its position in ARM by 14.2% during the second quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after acquiring an additional 29,686 shares in the last quarter. 7.53% of the stock is 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.