ARM (NASDAQ:ARM) Upgraded to “Strong-Buy” by TD Cowen

TD Cowen upgraded shares of ARM (NASDAQ:ARM) to a strong-buy rating in a research report released on Monday, Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Citigroup lifted their target price on shares of ARM from $150.00 to $170.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Guggenheim boosted their price objective on ARM from $110.00 to $169.00 and gave the company a buy rating in a research note on Tuesday, June 25th. Rosenblatt Securities restated a buy rating and set a $180.00 target price on shares of ARM in a research report on Thursday, August 1st. Needham & Company LLC reiterated a hold rating on shares of ARM in a report on Thursday, August 1st. Finally, Hsbc Global Res upgraded ARM to a moderate sell rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $125.96.

ARM Trading Up 1.6 %

Shares of ARM opened at $140.59 on Monday. The stock’s 50-day moving average price is $136.41 and its two-hundred day moving average price is $132.85. ARM has a 12 month low of $46.50 and a 12 month high of $188.75. The company has a market capitalization of $147.32 billion and a PE ratio of 148.06.

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

Institutional Investors Weigh In On ARM

Several large investors have recently made changes to their positions in the business. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of ARM during the 1st quarter worth approximately $25,000. Transcendent Capital Group LLC purchased a new stake in ARM in the second quarter worth $33,000. RiverPark Advisors LLC raised its stake in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares during the period. Mather Group LLC. bought a new stake in shares of ARM in the second quarter valued at $41,000. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of ARM during the 1st quarter valued at $35,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.