Loop Capital Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM) had its price target lifted by equities researchers at Loop Capital from $130.00 to $180.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s price objective suggests a potential upside of 28.64% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Susquehanna increased their price target on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup raised their price objective on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.95.

ARM Price Performance

NASDAQ ARM opened at $139.92 on Monday. The company has a market cap of $146.61 billion, a P/E ratio of 233.44, a P/E/G ratio of 6.72 and a beta of 5.40. The stock has a 50-day moving average of $142.50 and a two-hundred day moving average of $138.88. ARM has a 1-year low of $50.57 and a 1-year high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $810.03 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that ARM will post 0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of ARM in the first quarter valued at about $25,000. ORG Partners LLC purchased a new stake in ARM in the 3rd quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new position in ARM during the 2nd quarter worth approximately $33,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its holdings in shares of ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.