ARM (NASDAQ:ARM) Price Target Raised to $174.00

ARM (NASDAQ:ARM) had its price target lifted by equities researchers at The Goldman Sachs Group from $159.00 to $174.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 0.43% from the stock’s previous close.

ARM has been the topic of a number of other reports. Evercore ISI boosted their target price on shares of ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen lifted their target price on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays upped their target price on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday. Finally, Jefferies Financial Group upped their price objective on shares of ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $159.22.

ARM Stock Performance

Shares of ARM stock opened at $173.26 on Thursday. The stock has a market cap of $181.55 billion, a PE ratio of 288.77, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56. The business’s fifty day moving average is $143.45 and its 200-day moving average is $139.80. ARM has a 1 year low of $71.80 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the previous year, the business earned $0.36 earnings per share. ARM’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts predict that ARM will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Modus Advisors LLC lifted its position in shares of ARM by 300.2% in the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock worth $2,212,000 after buying an additional 13,453 shares during the last quarter. KP Management LLC lifted its holdings in ARM by 28.6% in the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock worth $6,435,000 after purchasing an additional 10,000 shares during the last quarter. XTX Topco Ltd boosted its position in ARM by 150.1% during the third quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock worth $928,000 after purchasing an additional 3,893 shares during the period. Willner & Heller LLC grew its holdings in ARM by 193.7% during 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 shares of ARM in the third quarter worth $8,581,000. 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.