Raymond James Initiates Coverage on ARM (NASDAQ:ARM)

Raymond James initiated coverage on shares of ARM (NASDAQ:ARM) in a report published on Friday, Marketbeat reports. The firm issued an outperform rating and a $160.00 price target on the stock.

Several other analysts also recently commented on ARM. The Goldman Sachs Group upped their price target on shares of ARM from $110.00 to $143.00 and gave the company a buy rating in a research report on Tuesday, June 11th. Barclays upped their price target on shares of ARM from $105.00 to $125.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Needham & Company LLC reiterated a hold rating on shares of ARM in a research report on Thursday, August 1st. TD Cowen upped their price objective on shares of ARM from $125.00 to $150.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein upgraded shares of ARM from an underperform rating to a market perform rating and upped their price objective for the stock from $92.00 to $100.00 in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $123.04.

ARM Stock Down 6.1 %

NASDAQ ARM opened at $138.40 on Friday. ARM has a 52 week low of $46.50 and a 52 week high of $188.75. The stock has a market capitalization of $145.02 billion and a PE ratio of 148.06. The firm has a 50 day moving average of $138.93 and a two-hundred day moving average of $132.79.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. During the same quarter in the prior year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. On average, equities research analysts expect that ARM will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in shares of ARM by 393.0% during the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after purchasing an additional 20,117 shares during the last quarter. Mizuho Securities Co. Ltd. lifted its holdings in shares of ARM by 156.3% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 18,400 shares of the company’s stock worth $3,011,000 after acquiring an additional 11,220 shares during the period. Rheos Capital Works Inc. lifted its holdings in shares of ARM by 48.1% during the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after acquiring an additional 83,400 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of ARM during the 1st quarter worth about $222,000. Finally, Prudential PLC lifted its holdings in shares of ARM by 38.1% during the 2nd quarter. Prudential PLC now owns 108,653 shares of the company’s stock worth $17,778,000 after acquiring an additional 29,992 shares during the period. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.