William Blair initiated coverage on shares of ARM (NASDAQ:ARM – Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating on the stock.
Several other research firms have also weighed in on ARM. Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday, August 8th. Sanford C. Bernstein raised shares of ARM from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $92.00 to $100.00 in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, August 1st. Morgan Stanley upgraded shares of ARM from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $107.00 to $190.00 in a research note on Friday, July 19th. Finally, Benchmark started coverage on shares of ARM in a report on Monday. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.04.
Get Our Latest Research Report on ARM
ARM Stock Up 1.1 %
Shares of ARM stock traded up $1.52 on Wednesday, hitting $138.36. The stock had a trading volume of 6,271,586 shares, compared to its average volume of 11,978,129. The business’s 50 day moving average is $137.06 and its two-hundred day moving average is $132.80. ARM has a twelve month low of $46.50 and a twelve month high of $188.75. The stock has a market cap of $144.98 billion and a price-to-earnings ratio of 148.06.
ARM (NASDAQ:ARM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $939.00 million for 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%. ARM’s revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the business earned $0.24 earnings per share. As a group, equities analysts predict that ARM will post 0.82 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ARM
Several institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in shares of ARM during the 2nd quarter valued at approximately $737,000. NCP Inc. lifted its holdings in ARM by 464.5% during the second quarter. NCP Inc. now owns 35,000 shares of the company’s stock valued at $5,727,000 after purchasing an additional 28,800 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of ARM in the second quarter valued at about $387,000. Cetera Investment Advisers increased its stake in shares of ARM by 42.2% during the second quarter. Cetera Investment Advisers now owns 38,973 shares of the company’s stock worth $6,377,000 after purchasing an additional 11,572 shares in the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new position in shares of ARM during the 2nd quarter worth about $922,000. Institutional investors and hedge funds own 7.53% of the company’s stock.
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.
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