ARM (NASDAQ:ARM) Coverage Initiated at UBS Group

Equities researchers at UBS Group initiated coverage on shares of ARM (NASDAQ:ARM) in a research report issued on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $160.00 price target on the stock. UBS Group’s price target indicates a potential upside of 17.03% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a report on Thursday, October 31st. Evercore ISI boosted their target price on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price target on ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Price Performance

ARM stock opened at $136.72 on Monday. The stock’s 50 day moving average price is $143.32 and its 200 day moving average price is $141.32. ARM has a 1-year low of $60.37 and a 1-year high of $188.75. The company has a market cap of $143.26 billion, a PE ratio of 227.87, a price-to-earnings-growth ratio of 6.79 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping 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 company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that ARM will post 0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Partners LLC acquired a new stake in ARM during the third quarter worth about $29,000. Transcendent Capital Group LLC acquired a new stake in ARM during the 2nd quarter worth approximately $33,000. Gilliland Jeter Wealth Management LLC raised its holdings in ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after buying an additional 117 shares during the period. RiverPark Advisors LLC lifted its position in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in ARM during the second quarter worth approximately $41,000. 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.