Citigroup Boosts ARM (NASDAQ:ARM) Price Target to $200.00

ARM (NASDAQ:ARM) had its price objective boosted by equities researchers at Citigroup from $170.00 to $200.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 23.07% from the company’s current price.

A number of other analysts have also weighed in on ARM. Raymond James upped their target price on ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen upped their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Susquehanna lifted their target price on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday. Finally, Loop Capital lifted their price objective on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Trading Down 3.0 %

Shares of ARM stock opened at $162.51 on Thursday. The stock’s fifty day moving average price is $144.13 and its 200-day moving average price is $140.00. The firm has a market cap of $170.28 billion, a P/E ratio of 270.85, a P/E/G ratio of 7.46 and a beta of 4.56. ARM has a 12 month low of $85.61 and a 12 month high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS 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 analyst estimates of $810.03 million. During the same quarter in the previous year, the business posted $0.36 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts forecast that ARM will post 0.84 earnings per share for the current year.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently made changes to their positions in ARM. Sanctuary Advisors LLC purchased a new stake in ARM in the second quarter valued at $737,000. Park Avenue Securities LLC boosted its stake in shares of ARM by 8.6% in the third quarter. Park Avenue Securities LLC now owns 2,780 shares of the company’s stock worth $398,000 after buying an additional 221 shares during the last quarter. Brookstone Capital Management raised its position in ARM by 12.4% during the third quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after acquiring an additional 156 shares in the last quarter. CWM LLC lifted its holdings in ARM by 19.6% in the third quarter. CWM LLC now owns 108,372 shares of the company’s stock valued at $15,498,000 after acquiring an additional 17,769 shares during the period. Finally, Hexagon Capital Partners LLC boosted its position in ARM by 14.0% in 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 in the last quarter. 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.