ARM (NASDAQ:ARM) Now Covered by Analysts at The Goldman Sachs Group

Research analysts at The Goldman Sachs Group began coverage on shares of ARM (NASDAQ:ARM - Get Free Report) in a note issued to investors on Thursday,Benzinga reports. The firm set a "neutral" rating and a $160.00 price target on the stock. The Goldman Sachs Group's price target points to a potential upside of 8.09% from the company's current price.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company cut their target price on ARM from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Mizuho lifted their price target on ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Bank of America cut their price objective on ARM from $144.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Morgan Stanley decreased their target price on shares of ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, Rosenblatt Securities cut their price target on shares of ARM from $203.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ARM currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.00.

ARM Trading Up 0.2%

NASDAQ:ARM opened at $148.02 on Thursday. The company has a 50-day moving average of $137.39 and a 200-day moving average of $132.19. ARM has a twelve month low of $80.00 and a twelve month high of $187.47. The firm has a market cap of $156.79 billion, a price-to-earnings ratio of 197.36, a price-to-earnings-growth ratio of 6.79 and a beta of 4.19.

ARM (NASDAQ:ARM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.23 billion. ARM had a net margin of 19.76% and a return on equity of 17.97%. The firm's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. On average, research analysts forecast that ARM will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently added to or reduced their stakes in the company. TFC Financial Management Inc. lifted its stake in ARM by 163.4% in the first quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after acquiring an additional 165 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of ARM during the 1st quarter valued at $28,000. GeoWealth Management LLC lifted its stake in shares of ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after purchasing an additional 92 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in ARM in the first quarter worth $34,000. Finally, Colonial Trust Co SC bought a new stake in ARM in the fourth quarter worth $40,000. Institutional investors and hedge funds 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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