ARM (NASDAQ:ARM) Price Target Lowered to $147.00 at Guggenheim

ARM (NASDAQ:ARM) had its target price lowered by Guggenheim from $180.00 to $147.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 26.87% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Raymond James lifted their target price on ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Evercore ISI increased their price target on shares of ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Rosenblatt Securities cut their price target on shares of ARM from $203.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup upped their price target on shares of ARM from $170.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, KGI Securities began coverage on ARM in a report on Tuesday, April 15th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.67.

ARM Trading Down 0.6 %

Shares of NASDAQ:ARM opened at $115.87 on Thursday. ARM has a 12-month low of $80.00 and a 12-month high of $188.75. The stock’s 50-day moving average price is $110.45 and its 200-day moving average price is $132.16. The stock has a market capitalization of $121.41 billion, a P/E ratio of 152.46, a price-to-earnings-growth ratio of 6.33 and a beta of 4.39.

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

Institutional Trading of ARM

Several hedge funds and other institutional investors have recently modified their holdings of ARM. TFC Financial Management Inc. increased its holdings in shares of ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 165 shares during the last quarter. GeoWealth Management LLC increased its position in shares of ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after purchasing an additional 92 shares during the period. N.E.W. Advisory Services LLC bought a new position in shares of ARM during the 1st quarter worth about $34,000. Colonial Trust Co SC acquired a new stake in ARM during the fourth quarter valued at approximately $40,000. Finally, Berbice Capital Management LLC acquired a new position in ARM during the fourth quarter worth $49,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.