Jefferies Financial Group Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM) had its price target upped by equities researchers at Jefferies Financial Group from $170.00 to $195.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 19.99% from the stock’s previous close.

Several other equities research analysts have also recently commented on ARM. Sanford C. Bernstein cut shares of 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. JPMorgan Chase & Co. lifted their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Mizuho increased their price target on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday. Rosenblatt Securities lifted their price objective on ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Loop Capital increased their target price on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Stock Performance

Shares of ARM opened at $162.51 on Thursday. The business’s fifty day moving average price is $144.13 and its two-hundred day moving average price is $140.00. The firm 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. ARM has a 52 week low of $85.61 and a 52 week high of $188.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same period last year, the company earned $0.36 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that ARM will post 0.84 EPS for the current year.

Institutional Investors Weigh In On ARM

A number of hedge funds and other institutional investors have recently bought and sold shares of ARM. ORG Partners LLC bought a new position in shares of ARM during the 3rd quarter worth approximately $29,000. Gilliland Jeter Wealth Management LLC boosted its holdings in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares during the last quarter. Berbice Capital Management LLC bought a new position in ARM in the fourth quarter valued at $49,000. Quantbot Technologies LP acquired a new stake in ARM in the 3rd quarter valued at $52,000. Finally, Farther Finance Advisors LLC lifted its position in ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after buying an additional 131 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.