Mizuho Issues Positive Forecast for ARM (NASDAQ:ARM) Stock Price

ARM (NASDAQ:ARM) had its target price raised by Mizuho from $160.00 to $180.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also issued reports on ARM. TD Cowen reduced their target price on ARM from $200.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Barclays reduced their target price on ARM from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. UBS Group reduced their target price on ARM from $215.00 to $165.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. reduced their target price on ARM from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Finally, Wells Fargo & Company reduced their target price on ARM from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Two 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and an average target price of $154.67.

ARM Price Performance

Shares of NASDAQ ARM opened at $154.79 on Thursday. The stock’s fifty day moving average price is $134.46 and its two-hundred day moving average price is $131.82. ARM has a one year low of $80.00 and a one year high of $188.75. The firm has a market cap of $163.96 billion, a price-to-earnings ratio of 206.38, a P/E/G ratio of 7.10 and a beta of 4.19.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. ARM had a return on equity of 17.97% and a net margin of 19.76%. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, equities analysts anticipate that ARM will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Several large investors have recently bought and sold shares of the company. Swedbank AB bought a new position in ARM in the first quarter valued at about $18,667,000. Geneos Wealth Management Inc. raised its position in shares of ARM by 12.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,035 shares of the company’s stock worth $324,000 after acquiring an additional 328 shares during the last quarter. Focus Partners Wealth raised its position in shares of ARM by 1.6% during the first quarter. Focus Partners Wealth now owns 68,821 shares of the company’s stock worth $7,349,000 after acquiring an additional 1,088 shares during the last quarter. Integrity Alliance LLC. bought a new position in shares of ARM during the first quarter worth about $564,000. Finally, Ransom Advisory Ltd bought a new position in shares of ARM during the first quarter worth about $76,000. 7.53% of the stock is currently owned by 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.