Arm Holdings plc (NASDAQ:ARM) Receives $134.91 Average Target Price from Brokerages

Arm Holdings plc (NASDAQ:ARM) has been given a consensus rating of “Moderate Buy” by the twenty-six research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, sixteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $138.57.

A number of analysts have recently weighed in on ARM shares. Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Raymond James started coverage on ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price objective for the company. Sanford C. Bernstein upgraded ARM from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $92.00 to $100.00 in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday, August 8th. Finally, Loop Capital upped their price objective on ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th.

ARM Stock Performance

NASDAQ:ARM opened at $153.03 on Friday. The stock has a fifty day moving average price of $137.10 and a 200-day moving average price of $135.20. The company has a market cap of $160.35 billion and a price-to-earnings ratio of 392.39. ARM has a fifty-two week low of $46.50 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million during the quarter, compared to the consensus estimate of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The company’s revenue was up 39.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. Research analysts predict that ARM will post 0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Large investors have recently added to or reduced their stakes in the business. Mark Sheptoff Financial Planning LLC acquired a new stake in ARM during the first quarter worth approximately $25,000. ORG Partners LLC acquired a new stake in ARM during the third quarter worth approximately $29,000. Transcendent Capital Group LLC acquired a new stake in ARM during the second quarter worth approximately $33,000. SOA Wealth Advisors LLC. acquired a new stake in ARM during the first quarter worth approximately $35,000. Finally, RiverPark Advisors LLC boosted its holdings in ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares in the last quarter. Institutional investors and hedge funds 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.