Citigroup Cuts ARM (NASDAQ:ARM) Price Target to $170.00

ARM (NASDAQ:ARM) had its target price reduced by Citigroup from $200.00 to $170.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on ARM. Cfra Research upgraded shares of ARM to a “hold” rating in a report on Friday, March 21st. Benchmark reaffirmed a “hold” rating on shares of ARM in a research report on Thursday. Rosenblatt Securities reduced their price target on ARM from $203.00 to $180.00 and set a “buy” rating for the company in a report on Thursday. Susquehanna increased their price objective on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Loop Capital raised their price target on shares of ARM from $180.00 to $195.00 and gave the company a “buy” rating in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.67.

ARM Stock Down 0.6 %

Shares of ARM stock 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 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 business has a fifty day simple moving average of $110.45 and a 200-day simple moving average of $132.09.

ARM (NASDAQ:ARM) last issued its earnings results 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 company 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 quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. Analysts expect that ARM will post 0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

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