The Goldman Sachs Group Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM) had its price target lifted by The Goldman Sachs Group from $159.00 to $174.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on ARM. TD Cowen boosted their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday. Evercore ISI upped their price target on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Stock Performance

Shares of ARM opened at $167.47 on Thursday. The stock has a 50-day moving average of $143.45 and a two-hundred day moving average of $139.80. ARM has a one year low of $72.25 and a one year high of $188.75. The stock has a market cap of $175.48 billion, a P/E ratio of 279.12, a P/E/G ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) 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 revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. Analysts predict that ARM will post 0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. ORG Partners LLC acquired a new position in shares of ARM during the third quarter worth about $29,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the period. Quantbot Technologies LP acquired a new position in shares of ARM during the third quarter worth about $52,000. Berbice Capital Management LLC acquired a new position in shares of ARM during the fourth quarter worth about $49,000. Finally, Farther Finance Advisors LLC increased its stake in shares of ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares during the period. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.