ARM (NASDAQ:ARM) Price Target Raised to $159.00 at The Goldman Sachs Group

ARM (NASDAQ:ARM) had its price target hoisted by equities researchers at The Goldman Sachs Group from $144.00 to $159.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 3.96% from the company’s previous close.

ARM has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. William Blair started coverage on shares of ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $107.00 to $190.00 in a report on Friday, July 19th. Finally, Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a report on Thursday, August 8th. Two investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $145.57.

ARM Trading Up 5.7 %

ARM traded up $8.26 on Thursday, hitting $152.94. 12,435,567 shares of the company’s stock were exchanged, compared to its average volume of 10,924,472. The stock has a fifty day moving average of $141.27 and a two-hundred day moving average of $137.49. ARM has a twelve month low of $49.82 and a twelve month high of $188.75. The firm has a market cap of $160.26 billion, a PE ratio of 392.15, a P/E/G ratio of 6.45 and a beta of 5.40.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 18.97% and a net margin of 12.12%. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the prior year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that ARM will post 0.86 EPS for the current year.

Hedge Funds Weigh In On ARM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARM. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of ARM in the first quarter valued at $25,000. ORG Partners LLC purchased a new position in shares of ARM during the third quarter valued at $29,000. Transcendent Capital Group LLC acquired a new position in ARM during the second quarter valued at $33,000. Gilliland Jeter Wealth Management LLC lifted its stake in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares in the last quarter. Finally, RiverPark Advisors LLC boosted its position in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares during the period. 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.