ARM (NASDAQ:ARM) Price Target Increased to $173.00 by Analysts at Evercore ISI

ARM (NASDAQ:ARM) had its target price raised by Evercore ISI from $145.00 to $173.00 in a research report released on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also issued reports on ARM. HSBC lowered shares of ARM from a hold rating to a reduce rating in a research note on Monday, July 29th. The Goldman Sachs Group upped their target price on shares of ARM from $110.00 to $143.00 and gave the company a buy rating in a research note on Tuesday, June 11th. TD Cowen upped their target price on shares of ARM from $125.00 to $150.00 and gave the company a buy rating in a research note on Thursday. Sanford C. Bernstein upped their target price on shares of ARM from $72.00 to $92.00 and gave the company an underperform rating in a research note on Thursday, May 16th. Finally, BNP Paribas lowered shares of ARM from an outperform rating to a neutral rating and set a $100.00 target price on the stock. in a research note on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of 118.80.

ARM Price Performance

Shares of ARM stock opened at 113.45 on Thursday. ARM has a 12 month low of 46.50 and a 12 month high of 188.75. The firm has a market capitalization of $118.88 billion and a P/E ratio of 129.27. The company’s fifty day moving average price is 153.78 and its two-hundred day moving average price is 127.51.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported 0.40 EPS for the quarter, topping analysts’ consensus estimates of 0.35 by 0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The firm had revenue of 939.00 million for the quarter, compared to analyst estimates of 905.53 million. During the same quarter in the previous year, the business posted $0.24 EPS. The firm’s revenue was up 39.1% compared to the same quarter last year. On average, sell-side analysts anticipate that ARM will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in ARM during the first quarter valued at approximately $25,000. Transcendent Capital Group LLC acquired a new stake in ARM during the second quarter valued at approximately $33,000. SOA Wealth Advisors LLC. acquired a new stake in ARM during the first quarter valued at approximately $35,000. RiverPark Advisors LLC lifted its stake in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after purchasing an additional 77 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in ARM during the second quarter valued at approximately $41,000. 7.53% of the stock is currently owned by 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.