ARM (NASDAQ:ARM) Earns Outperform Rating from Analysts at Evercore ISI

Analysts at Evercore ISI began coverage on shares of ARM (NASDAQ:ARM) in a report released on Tuesday, MarketBeat reports. The brokerage set an “outperform” rating and a $156.00 price target on the stock.

ARM has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. TD Cowen upped their price objective on ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft cut ARM from a “buy” rating to a “hold” rating and upped their target price for the stock from $60.00 to $70.00 in a report on Monday, December 18th. Rosenblatt Securities upped their target price on ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, New Street Research reiterated a “neutral” rating and issued a $110.00 target price on shares of ARM in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of 89.88.

ARM Stock Down 12.0 %

Shares of ARM stock opened at 107.56 on Tuesday. The stock’s fifty day moving average is 129.18 and its two-hundred day moving average is 85.98. ARM has a 52 week low of 46.50 and a 52 week high of 164.00.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. The firm’s revenue was up 13.8% on a year-over-year basis. As a group, research analysts predict that ARM will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Griffin Asset Management Inc. acquired a new position in ARM during the 1st quarter valued at about $246,000. Harbour Capital Advisors LLC increased its position in ARM by 10.0% during the 1st quarter. Harbour Capital Advisors LLC now owns 6,050 shares of the company’s stock valued at $752,000 after buying an additional 550 shares in the last quarter. Sovereign Financial Group Inc. acquired a new position in ARM during the 1st quarter valued at about $266,000. Sunbelt Securities Inc. acquired a new position in shares of ARM in the first quarter valued at about $169,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of ARM in the first quarter valued at about $440,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.