ARM (NASDAQ:ARM) Given New $200.00 Price Target at Citigroup

ARM (NASDAQ:ARM) had its target price hoisted by Citigroup from $170.00 to $200.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

ARM has been the topic of several other research reports. TD Cowen increased their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group began coverage on ARM in a report on Monday, November 25th. They set a “buy” rating and a $160.00 price target on the stock. Mizuho increased their price objective on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price objective on ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.17.

ARM Stock Performance

NASDAQ:ARM opened at $167.47 on Thursday. The stock’s 50 day moving average price is $143.45 and its 200 day moving average price is $139.80. ARM has a 52 week low of $72.25 and a 52 week high of $188.75. The company has a market capitalization 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 released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that ARM will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARM. International Assets Investment Management LLC boosted its holdings in ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after buying an additional 806,676 shares during the last quarter. Raymond James Financial Inc. bought a new position in ARM during the fourth quarter worth about $32,655,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ARM by 186.8% during 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. Franklin Resources Inc. boosted its holdings in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after buying an additional 228,467 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in ARM during the fourth quarter worth about $22,705,000. Institutional investors own 7.53% of the company’s stock.

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.