ARM (NASDAQ:ARM) Given New $140.00 Price Target at Raymond James

ARM (NASDAQ:ARM) had its target price reduced by equities researchers at Raymond James from $175.00 to $140.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 20.83% from the stock’s previous close.

A number of other research analysts also recently weighed in on ARM. Loop Capital increased their price objective on shares of ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Rosenblatt Securities reduced their target price on shares of ARM from $203.00 to $180.00 and set a “buy” rating for the company in a report on Thursday. Cfra Research upgraded ARM to a “hold” rating in a research report on Friday, March 21st. The Goldman Sachs Group upped their target price on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, KGI Securities started coverage on ARM in a report on Tuesday, April 15th. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.67.

ARM Stock Performance

Shares of ARM opened at $115.87 on Thursday. The stock has a market cap of $121.41 billion, a PE ratio of 152.46, a price-to-earnings-growth ratio of 6.33 and a beta of 4.39. The firm’s 50-day simple moving average is $110.45 and its two-hundred day simple moving average is $132.16. ARM has a fifty-two week low of $80.00 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. ARM’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Equities research analysts predict that ARM will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of ARM by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company’s stock valued at $12,990,000 after purchasing an additional 5,440 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in ARM by 333.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,884 shares of the company’s stock worth $849,000 after buying an additional 5,297 shares during the last quarter. Clarus Wealth Advisors acquired a new position in shares of ARM during the fourth quarter valued at about $732,000. Envestnet Asset Management Inc. raised its holdings in shares of ARM by 0.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company’s stock worth $5,320,000 after buying an additional 353 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in ARM in the 4th quarter worth $471,000. 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.