Arm Holdings plc (NASDAQ:ARM) Receives $150.32 Average Price Target from Brokerages

Shares of Arm Holdings plc (NASDAQ:ARM) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $150.32.

Several brokerages have recently weighed in on ARM. UBS Group began coverage on ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 price target for the company. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research note on Thursday, October 31st. Raymond James began coverage on ARM in a research note on Friday, September 13th. They set an “outperform” rating and a $160.00 price target for the company. Wells Fargo & Company assumed coverage on ARM in a research note on Friday, November 22nd. They set an “overweight” rating and a $155.00 price target for the company. Finally, Evercore ISI boosted their target price on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

ARM Price Performance

NASDAQ:ARM opened at $139.64 on Friday. The business has a fifty day simple moving average of $142.48 and a two-hundred day simple moving average of $142.67. ARM has a 1 year low of $62.75 and a 1 year high of $188.75. The company has a market capitalization of $146.32 billion, a P/E ratio of 234.82, a P/E/G ratio of 7.03 and a beta of 4.71.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. As a group, analysts anticipate that ARM will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Several hedge funds and other institutional investors have recently modified their holdings of ARM. International Assets Investment Management LLC lifted its holdings in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares during the period. Sei Investments Co. lifted its holdings in shares of ARM by 551.6% during the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ARM by 186.8% in the 3rd 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 in the last quarter. Franklin Resources Inc. increased its stake 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 worth $183,265,000 after purchasing an additional 228,467 shares in the last quarter. Finally, Marsico Capital Management LLC purchased a new stake in shares of ARM in the 2nd quarter worth $33,207,000. 7.53% of the stock is owned by institutional investors.

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.