ARM (NASDAQ:ARM) Stock Rating Upgraded by TD Cowen

TD Cowen upgraded shares of ARM (NASDAQ:ARM) to a strong-buy rating in a report published on Monday morning, Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Daiwa Capital Markets raised shares of ARM from a neutral rating to an outperform rating and set a $130.00 price target on the stock in a report on Thursday, August 8th. Hsbc Global Res raised shares of ARM to a moderate sell rating in a report on Monday, July 29th. Evercore ISI increased their price objective on ARM from $145.00 to $173.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Guggenheim boosted their target price on ARM from $110.00 to $169.00 and gave the stock a buy rating in a research report on Tuesday, June 25th. Finally, Morgan Stanley raised ARM from an equal weight rating to an overweight rating and raised their price target for the company from $107.00 to $190.00 in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $125.96.

ARM Trading Up 1.6 %

ARM stock opened at $140.59 on Monday. The firm has a market capitalization of $147.32 billion and a price-to-earnings ratio of 148.06. The firm has a 50 day simple moving average of $136.41 and a 200 day simple moving average of $132.85. ARM has a 1-year low of $46.50 and a 1-year high of $188.75.

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

Institutional Trading of ARM

A number of institutional investors have recently made changes to their positions in the stock. Schroder Investment Management Group purchased a new position in shares of ARM during the fourth quarter valued at approximately $480,194,000. Wellington Management Group LLP raised its holdings in ARM by 56.4% in the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after purchasing an additional 1,611,926 shares in the last quarter. Robeco Schweiz AG raised its holdings in ARM by 220.3% in the 4th quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after purchasing an additional 1,465,000 shares in the last quarter. Mubadala Investment Co PJSC purchased a new stake in shares of ARM in the 4th quarter worth about $150,437,000. Finally, Capstone Investment Advisors LLC boosted its stake in shares of ARM by 362.6% during the 4th quarter. Capstone Investment Advisors LLC now owns 902,000 shares of the company’s stock valued at $67,781,000 after purchasing an additional 707,000 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.