ARM (NASDAQ:ARM) Price Target Raised to $174.00

ARM (NASDAQ:ARM) had its price objective lifted by The Goldman Sachs Group from $159.00 to $174.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 0.43% from the company’s previous close.

A number of other brokerages also recently commented on ARM. Evercore ISI raised their price objective on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday. Susquehanna raised their target price on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities boosted their price target on shares of ARM from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have assigned 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, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $159.22.

ARM Trading Up 6.8 %

Shares of ARM stock opened at $173.26 on Thursday. The company has a market cap of $181.55 billion, a price-to-earnings ratio of 288.77, a PEG ratio of 7.46 and a beta of 4.56. ARM has a 1 year low of $71.80 and a 1 year high of $188.75. The company’s fifty day simple moving average is $143.45 and its 200-day simple moving average is $139.80.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that ARM will post 0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARM. Tufton Capital Management lifted its holdings in ARM by 1.5% during the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock worth $546,000 after buying an additional 65 shares in the last quarter. Valley National Advisers Inc. increased its position in ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after purchasing an additional 72 shares during the period. Hexagon Capital Partners LLC raised its holdings in ARM by 14.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after purchasing an additional 77 shares during the last quarter. Zullo Investment Group Inc. lifted its position in ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after purchasing an additional 85 shares during the period. Finally, Gladstone Institutional Advisory LLC boosted its stake in shares of ARM by 3.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company’s stock valued at $409,000 after purchasing an additional 98 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

About ARM

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.