ARM (NASDAQ:ARM) Given New $174.00 Price Target at The Goldman Sachs Group

ARM (NASDAQ:ARM) had its price objective boosted by equities researchers at The Goldman Sachs Group from $159.00 to $174.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 7.07% from the company’s previous close.

A number of other equities research analysts have also issued reports on ARM. UBS Group assumed coverage on ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 target price on the stock. Barclays upped their price objective on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Jefferies Financial Group lifted their price objective on ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday. Finally, Loop Capital lifted their price target on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.17.

ARM Stock Down 3.0 %

Shares of ARM stock opened at $162.51 on Thursday. ARM has a fifty-two week low of $85.61 and a fifty-two week high of $188.75. The business has a fifty day simple moving average of $144.13 and a 200-day simple moving average of $140.00. The stock has a market cap of $170.28 billion, a P/E ratio of 270.85, a P/E/G ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 18.13% and a return on equity of 13.69%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts anticipate that ARM will post 0.84 earnings per share for the current year.

Institutional Trading of ARM

Several large investors have recently bought and sold shares of ARM. Franklin Resources Inc. grew its holdings in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares in the last quarter. International Assets Investment Management LLC boosted its position in ARM by 14,351.1% in 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 last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of ARM by 4,506.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after acquiring an additional 791,392 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 acquiring an additional 233,909 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of ARM in the fourth quarter worth about $32,655,000. 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.