Brokerages Set Arm Holdings plc (NASDAQ:ARM) PT at $147.95

Arm Holdings plc (NASDAQ:ARM) has earned an average recommendation of “Moderate Buy” from the twenty-six brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $147.95.

Several equities research analysts have issued reports on the stock. Benchmark initiated coverage on shares of ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $107.00 to $190.00 in a report on Friday, July 19th. Barclays upped their price objective on ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $180.00 price target on shares of ARM in a research note on Thursday, August 1st.

ARM Trading Up 0.9 %

ARM stock opened at $136.35 on Tuesday. ARM has a 1-year low of $53.47 and a 1-year high of $188.75. The business’s 50 day simple moving average is $143.11 and its 200 day simple moving average is $139.12. The firm has a market capitalization of $142.87 billion, a PE ratio of 228.02, a PEG ratio of 6.39 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, sell-side analysts predict that ARM will post 0.86 EPS for the current fiscal year.

Institutional Trading of ARM

A number of hedge funds have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. bought a new position in shares of ARM in the 1st quarter valued at $222,000. Empowered Funds LLC bought a new position in ARM in the first quarter valued at about $252,000. SG Americas Securities LLC boosted its stake in shares of ARM by 260.6% during the first quarter. SG Americas Securities LLC now owns 19,809 shares of the company’s stock valued at $2,476,000 after purchasing an additional 14,315 shares in the last quarter. NorthRock Partners LLC bought a new stake in shares of ARM during the first quarter worth about $264,000. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of ARM in the first quarter valued at approximately $249,000. 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.