ARM (NASDAQ:ARM) Price Target Raised to $200.00 at Citigroup

ARM (NASDAQ:ARM) had its price target raised by research analysts at Citigroup from $170.00 to $200.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 23.07% from the company’s current price.

Several other equities analysts also recently issued reports on ARM. The Goldman Sachs Group increased their price objective on shares of ARM from $159.00 to $174.00 and gave the company a “buy” rating in a report on Thursday. Barclays lifted their price objective on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Mizuho increased their target price on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday. Loop Capital raised their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research report on Thursday, October 31st. Two equities research 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.17.

ARM Trading Down 3.0 %

NASDAQ ARM opened at $162.51 on Thursday. The stock has a market capitalization of $170.28 billion, a price-to-earnings ratio of 270.85, a PEG ratio of 7.46 and a beta of 4.56. The stock has a 50-day moving average of $144.13 and a 200 day moving average of $140.00. ARM has a twelve month low of $85.61 and a twelve month high of $188.75.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in shares of ARM in the 2nd quarter valued at approximately $737,000. Park Avenue Securities LLC increased its holdings in ARM by 8.6% in the 3rd quarter. Park Avenue Securities LLC now owns 2,780 shares of the company’s stock valued at $398,000 after purchasing an additional 221 shares during the last quarter. Brookstone Capital Management raised its position in ARM by 12.4% in the third quarter. Brookstone Capital Management now owns 1,411 shares of the company’s stock valued at $202,000 after purchasing an additional 156 shares during the period. CWM LLC lifted its stake in ARM by 19.6% during the third quarter. CWM LLC now owns 108,372 shares of the company’s stock worth $15,498,000 after purchasing an additional 17,769 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in shares of ARM by 14.0% during the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.