Loop Capital Has Lowered Expectations for ARM (NASDAQ:ARM) Stock Price

ARM (NASDAQ:ARM) had its price target decreased by Loop Capital from $195.00 to $155.00 in a report released on Tuesday morning,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Several other analysts also recently issued reports on ARM. The Goldman Sachs Group increased their price target on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Guggenheim dropped their target price on ARM from $180.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price target on ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Citigroup lowered their price objective on shares of ARM from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, Mizuho boosted their target price on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.76.

ARM Stock Performance

Shares of NASDAQ:ARM opened at $126.68 on Tuesday. The stock has a 50-day simple moving average of $110.62 and a 200-day simple moving average of $131.86. The stock has a market capitalization of $132.74 billion, a P/E ratio of 166.69, a PEG ratio of 6.33 and a beta of 4.39. ARM has a 1 year low of $80.00 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. ARM had a net margin of 21.82% and a return on equity of 11.94%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. ARM’s revenue for the quarter was up 33.7% on a year-over-year basis. Analysts predict that ARM will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Several institutional investors and hedge funds have recently made changes to their positions in ARM. Watts Gwilliam & Co. LLC boosted its holdings in ARM by 8.0% in the first quarter. Watts Gwilliam & Co. LLC now owns 8,761 shares of the company’s stock worth $936,000 after purchasing an additional 652 shares during the period. Brooklyn Investment Group bought a new position in shares of ARM in the 1st quarter worth about $28,000. CacheTech Inc. lifted its position in shares of ARM by 13.8% in the 1st quarter. CacheTech Inc. now owns 26,431 shares of the company’s stock worth $2,823,000 after buying an additional 3,214 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of ARM by 3.4% in the 1st quarter. Raymond James Financial Inc. now owns 273,687 shares of the company’s stock valued at $29,227,000 after buying an additional 8,980 shares during the period. Finally, Cresset Asset Management LLC grew its position in shares of ARM by 36.1% during the 1st quarter. Cresset Asset Management LLC now owns 15,592 shares of the company’s stock valued at $1,665,000 after buying an additional 4,135 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

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.