Morgan Stanley Cuts ARM (NASDAQ:ARM) Price Target to $150.00

ARM (NASDAQ:ARM) had its target price reduced by Morgan Stanley from $175.00 to $150.00 in a report published on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Benchmark restated a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, February 6th. Cfra Research upgraded ARM to a “hold” rating in a research report on Friday, March 21st. Finally, Rosenblatt Securities boosted their target price on ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and an average price target of $163.41.

ARM Price Performance

Shares of ARM opened at $107.80 on Friday. ARM has a 1-year low of $85.61 and a 1-year high of $188.75. The company has a market capitalization of $112.96 billion, a P/E ratio of 141.84, a P/E/G ratio of 6.33 and a beta of 4.77. The firm’s 50 day simple moving average is $140.01 and its 200 day simple moving average is $140.66.

Hedge Funds Weigh In On ARM

A number of hedge funds and other institutional investors have recently made changes to their positions in ARM. Artisan Partners Limited Partnership grew its stake in ARM by 48.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock worth $327,088,000 after purchasing an additional 860,716 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in ARM by 4,506.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock worth $107,774,000 after acquiring an additional 791,392 shares in the last quarter. Schroder Investment Management Group grew its holdings in ARM by 17.9% in the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock worth $376,782,000 after purchasing an additional 464,719 shares during the period. Marshall Wace LLP bought a new position in shares of ARM during the fourth quarter valued at approximately $51,901,000. Finally, Banque Transatlantique SA bought a new position in shares of ARM during the fourth quarter valued at approximately $37,440,000. Institutional investors own 7.53% of the company’s stock.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.