ARM (NASDAQ:ARM) Stock Price Expected to Rise, Mizuho Analyst Says

ARM (NASDAQ:ARM) had its price objective increased by equities researchers at Mizuho from $160.00 to $180.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 3.89% from the stock’s previous close.

A number of other equities research analysts have also issued reports on ARM. Susquehanna raised their price target on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities upped their price objective on ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their price objective on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday. Finally, Wells Fargo & Company increased their price objective on ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Two equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.22.

ARM Trading Up 6.8 %

NASDAQ:ARM opened at $173.26 on Thursday. The stock has a 50-day moving average price of $143.45 and a 200 day moving average price of $139.80. The stock has a market capitalization of $181.55 billion, a P/E ratio of 288.77, a P/E/G ratio of 7.46 and a beta of 4.56. ARM has a 12-month low of $71.80 and a 12-month high of $188.75.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, research analysts predict that ARM will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently made changes to their positions in ARM. International Assets Investment Management LLC grew its stake in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after acquiring an additional 806,676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares during the last quarter. Franklin Resources Inc. grew its position in shares of ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after buying an additional 228,467 shares during the last quarter. SG Americas Securities LLC purchased a new position in ARM during the 4th quarter worth approximately $22,705,000. Finally, SBI Securities Co. Ltd. purchased a new stake in ARM in the 4th quarter valued at $16,933,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.