ARM (NASDAQ:ARM) Price Target Lowered to $180.00 at Rosenblatt Securities

ARM (NASDAQ:ARM) had its price objective cut by research analysts at Rosenblatt Securities from $203.00 to $180.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 55.35% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Raymond James raised their target price on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Loop Capital upped their price objective on shares of ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday. Bank of America dropped their price objective on shares of ARM from $180.00 to $144.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Benchmark restated a “hold” rating on shares of ARM in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $154.67.

ARM Trading Down 0.6 %

NASDAQ:ARM opened at $115.87 on Thursday. The company has a market cap of $121.41 billion, a P/E ratio of 152.46, a P/E/G ratio of 6.33 and a beta of 4.39. ARM has a twelve month low of $80.00 and a twelve month high of $188.75. The company’s 50-day moving average price is $110.45 and its 200-day moving average price is $132.16.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. ARM had a return on equity of 11.94% and a net margin of 21.82%. The firm’s revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. On average, analysts expect that ARM will post 0.9 earnings per share for the current year.

Institutional Trading of ARM

Several hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its position in ARM by 59.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company’s stock valued at $702,129,000 after buying an additional 2,446,224 shares in the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of ARM in the 1st quarter worth approximately $170,287,000. Artisan Partners Limited Partnership boosted its holdings in shares of ARM by 48.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock valued at $327,088,000 after acquiring an additional 860,716 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of 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 valued at $107,774,000 after acquiring an additional 791,392 shares during the period. Finally, Schroder Investment Management Group raised its holdings in ARM by 17.9% during 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 in the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Company Profile

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.