ARM (NASDAQ:ARM) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Key Points

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ARM (NASDAQ:ARM - Get Free Report) had its price objective upped by equities researchers at Raymond James Financial from $140.00 to $165.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Raymond James Financial's price objective suggests a potential upside of 13.99% from the stock's current price.

Several other research firms have also recently commented on ARM. KeyCorp reaffirmed an "overweight" rating and issued a $190.00 target price (up from $175.00) on shares of ARM in a research note on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of ARM in a research note on Thursday. UBS Group raised their target price on shares of ARM from $155.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Citigroup dropped their target price on ARM from $200.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Barclays reduced their price target on ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $165.13.

ARM Price Performance

Shares of ARM traded down $18.58 during mid-day trading on Thursday, reaching $144.75. The company's stock had a trading volume of 10,353,698 shares, compared to its average volume of 5,472,683. The company's 50 day moving average is $146.56 and its 200 day moving average is $134.48. The stock has a market cap of $152.93 billion, a PE ratio of 193.18, a price-to-earnings-growth ratio of 9.36 and a beta of 4.19. ARM has a 12-month low of $80.00 and a 12-month high of $182.88.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. ARM had a return on equity of 17.97% and a net margin of 19.76%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the business posted $0.40 EPS. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that ARM will post 0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARM. Oliver Lagore Vanvalin Investment Group acquired a new stake in ARM in the second quarter valued at $39,000. Brooklyn Investment Group acquired a new stake in ARM in the first quarter valued at $28,000. GeoWealth Management LLC lifted its holdings in ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after acquiring an additional 92 shares during the period. TFC Financial Management Inc. increased its position in shares of 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 buying an additional 165 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in shares of ARM in the second quarter valued at $48,000. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Company Profile

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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