Raymond James Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM) had its price objective increased by analysts at Raymond James from $160.00 to $175.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 7.69% from the stock’s previous close.

ARM has been the subject of a number of other research reports. Susquehanna lifted their price objective on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group boosted their price target on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group raised their price objective on shares of ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their price target on shares of ARM from $155.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Loop Capital raised their price target on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and a consensus price target of $162.17.

ARM Price Performance

NASDAQ:ARM opened at $162.51 on Thursday. The stock has a market cap of $170.28 billion, a PE ratio of 270.85, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56. ARM has a fifty-two week low of $85.61 and a fifty-two week high of $188.75. The stock’s 50-day moving average is $144.13 and its two-hundred day moving average is $140.00.

ARM (NASDAQ:ARM) last released its quarterly earnings data 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 firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the prior year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that ARM will post 0.84 earnings per share for the current year.

Institutional Trading of ARM

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of ARM by 4,506.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after acquiring an additional 791,392 shares in the last quarter. Raymond James Financial Inc. bought a new stake in ARM during the fourth quarter worth about $32,655,000. Mirae Asset Global Investments Co. Ltd. boosted its position in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after purchasing an additional 233,909 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

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.