Evercore ISI Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM) had its target price lifted by analysts at Evercore ISI from $176.00 to $202.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 24.30% from the stock’s current price.

Several other analysts also recently weighed in on ARM. 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 reaffirmed a “hold” rating on shares of ARM in a report on Thursday, November 7th. Loop Capital raised their target price on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research note on Thursday, October 31st. Finally, UBS Group started coverage on shares of ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.17.

ARM Stock Down 3.0 %

ARM stock 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. The firm’s 50-day simple moving average is $144.13 and its 200 day simple moving average is $140.00. ARM has a fifty-two week low of $85.61 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last announced 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. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 earnings per share. Equities analysts forecast that ARM will post 0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Tufton Capital Management raised its holdings in ARM by 1.5% in the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock worth $546,000 after acquiring an additional 65 shares during the period. Valley National Advisers Inc. increased its stake in shares of ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after purchasing an additional 72 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of ARM by 14.0% during 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 during the last quarter. Zullo Investment Group Inc. boosted its stake in ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after purchasing an additional 85 shares during the period. Finally, Gladstone Institutional Advisory LLC grew its holdings in ARM by 3.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company’s stock valued at $409,000 after buying an additional 98 shares during 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.