ARM (NASDAQ:ARM) Upgraded at Daiwa America

Daiwa America upgraded shares of ARM (NASDAQ:ARM) from a hold rating to a strong-buy rating in a research report report published on Thursday, Zacks.com reports.

A number of other brokerages also recently weighed in on ARM. Loop Capital boosted their price target on shares of ARM from $120.00 to $130.00 and gave the stock a buy rating in a report on Tuesday, August 6th. Hsbc Global Res upgraded shares of ARM to a moderate sell rating in a research note on Monday, July 29th. Bank of America raised their price objective on shares of ARM from $150.00 to $180.00 and gave the stock a buy rating in a report on Monday, June 17th. Guggenheim increased their target price on ARM from $110.00 to $169.00 and gave the stock a buy rating in a research report on Tuesday, June 25th. Finally, Rosenblatt Securities reiterated a buy rating and issued a $180.00 price target on shares of ARM in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $121.56.

ARM Trading Down 1.2 %

NASDAQ ARM opened at $117.00 on Thursday. The company has a market cap of $122.60 billion and a P/E ratio of 120.63. The company has a fifty day simple moving average of $153.07 and a 200 day simple moving average of $128.80. ARM has a 12-month low of $46.50 and a 12-month high of $188.75.

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

Hedge Funds Weigh In On ARM

A number of institutional investors have recently bought and sold shares of ARM. International Assets Investment Management LLC purchased a new position in shares of ARM during the 4th quarter worth approximately $10,463,000. Mirae Asset Global Investments Co. Ltd. increased its position in ARM by 119.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,263 shares of the company’s stock valued at $2,049,000 after acquiring an additional 14,821 shares during the period. Sequoia Financial Advisors LLC acquired a new position in ARM in the 4th quarter valued at $402,000. Cerity Partners LLC raised its holdings in ARM by 41.0% during the fourth quarter. Cerity Partners LLC now owns 9,063 shares of the company’s stock worth $681,000 after purchasing an additional 2,635 shares in the last quarter. Finally, Aquila Investment Management LLC boosted its holdings in ARM by 158.3% in the 4th quarter. Aquila Investment Management LLC now owns 31,000 shares of the company’s stock valued at $2,329,000 after purchasing an additional 19,000 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.