ARM (NASDAQ:ARM) Given New $187.00 Price Target at Guggenheim

ARM (NASDAQ:ARM - Get Free Report) had its price objective hoisted by investment analysts at Guggenheim from $147.00 to $187.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Guggenheim's price objective would suggest a potential upside of 13.02% from the company's previous close.

A number of other equities research analysts have also recently issued reports on ARM. Bank of America lowered their target price on shares of ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Morgan Stanley reduced their price target on ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. KGI Securities initiated coverage on ARM in a report on Tuesday, April 15th. They set a "neutral" rating on the stock. Needham & Company LLC restated a "hold" rating on shares of ARM in a research note on Thursday, May 8th. Finally, Benchmark reissued a "hold" rating on shares of ARM in a report on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $154.67.

ARM Price Performance

Shares of ARM opened at $165.46 on Monday. ARM has a 1 year low of $80.00 and a 1 year high of $188.75. The stock's fifty day moving average price is $130.20 and its two-hundred day moving average price is $131.35. The firm has a market cap of $175.27 billion, a PE ratio of 220.61, a PEG ratio of 7.60 and a beta of 4.10.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. ARM had a return on equity of 17.97% and a net margin of 19.76%. The firm's revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. Sell-side analysts anticipate that ARM will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Several hedge funds have recently added to or reduced their stakes in ARM. Truist Financial Corp purchased a new position in shares of ARM during the 4th quarter valued at about $504,000. Bank of New York Mellon Corp raised its stake in shares of ARM by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company's stock worth $12,990,000 after acquiring an additional 5,440 shares in the last quarter. QRG Capital Management Inc. bought a new stake in shares of ARM in the 4th quarter worth approximately $493,000. Fisher Asset Management LLC lifted its holdings in shares of ARM by 81.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,008 shares of the company's stock worth $371,000 after acquiring an additional 1,351 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of ARM by 23.1% during the 4th quarter. Jones Financial Companies Lllp now owns 28,352 shares of the company's stock valued at $3,498,000 after purchasing an additional 5,328 shares during the last quarter. Institutional investors own 7.53% of the company's stock.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.

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