Susquehanna Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM) had its price objective increased by Susquehanna from $118.00 to $140.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, January 13th. UBS Group began coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective for the company. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price target on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $152.09.

ARM Stock Performance

ARM stock opened at $179.93 on Wednesday. ARM has a fifty-two week low of $69.32 and a fifty-two week high of $188.75. The company has a market capitalization of $188.54 billion, a PE ratio of 299.89, a P/E/G ratio of 6.97 and a beta of 4.53. The company has a 50 day moving average price of $137.82 and a 200-day moving average price of $140.73.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping 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 business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. On average, analysts forecast that ARM will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On ARM

A number of large investors have recently bought and sold shares of ARM. Modus Advisors LLC lifted its stake in ARM by 300.2% during the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after acquiring an additional 13,453 shares during the period. KP Management LLC lifted its position in ARM by 28.6% during the third quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares during the period. XTX Topco Ltd lifted its position in ARM by 150.1% during the third quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock valued at $928,000 after purchasing an additional 3,893 shares during the period. Willner & Heller LLC boosted its holdings in ARM by 193.7% in the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after purchasing an additional 4,484 shares during the last quarter. Finally, Avalon Global Asset Management LLC acquired a new stake in ARM during the 3rd quarter worth about $8,581,000. Hedge funds and other 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.