ARM (NASDAQ:ARM) Given New $175.00 Price Target at Raymond James

ARM (NASDAQ:ARM) had its target price lifted by analysts at Raymond James from $160.00 to $175.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target suggests a potential upside of 1.00% from the stock’s current price.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI lifted their price objective on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday. Loop Capital upped their target price on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. TD Cowen lifted their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on shares of ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.87.

ARM Trading Up 6.8 %

ARM opened at $173.26 on Thursday. ARM has a 12 month low of $71.80 and a 12 month high of $188.75. The company has a market cap of $181.55 billion, a PE ratio of 288.77, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56. The company has a 50 day moving average of $143.45 and a 200 day moving average of $139.80.

ARM (NASDAQ:ARM) last announced its quarterly earnings results 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 return on equity of 13.69% and a net margin of 18.13%. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that ARM will post 0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. ORG Partners LLC purchased a new position in shares of ARM in the 3rd quarter worth about $29,000. Gilliland Jeter Wealth Management LLC increased its stake in ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares in the last quarter. Berbice Capital Management LLC purchased a new position in ARM in the fourth quarter worth about $49,000. Quantbot Technologies LP purchased a new position in ARM in the third quarter worth about $52,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after buying an additional 131 shares in the last quarter. 7.53% of the stock is 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.