TD Cowen Issues Positive Forecast for ARM (NASDAQ:ARM) Stock Price

Key Points

• TD Cowen has raised ARM's price target to $175.00, reflecting a potential upside of 7.15%, while maintaining a "buy" rating for the stock.
• Other analysts, including UBS and Morgan Stanley, have also increased their price targets for ARM, with a consensus price target of $163.83 and an average rating of "Moderate Buy."
• ARM reported a quarterly revenue of $1.05 billion, a 12.1% increase year-over-year, surpassing analysts' estimates by a narrow margin.

ARM (NASDAQ:ARM - Free Report) had its price objective hoisted by TD Cowen from $155.00 to $175.00 in a report issued on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the stock. BNP Paribas upgraded shares of ARM from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $110.00 to $210.00 in a research report on Wednesday, July 16th. UBS Group boosted their target price on shares of ARM from $155.00 to $185.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Morgan Stanley boosted their target price on shares of ARM from $150.00 to $194.00 and gave the company an "overweight" rating in a research report on Monday. Barclays decreased their target price on shares of ARM from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Bank of America cut their price objective on shares of ARM from $144.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $165.13.

ARM Trading Down 2.7%

Shares of NASDAQ:ARM traded down $3.80 on Thursday, hitting $137.58. 7,657,305 shares of the company were exchanged, compared to its average volume of 5,217,094. ARM has a 1-year low of $80.00 and a 1-year high of $182.88. The stock's 50 day moving average price is $147.01 and its 200 day moving average price is $134.49. The firm has a market capitalization of $145.35 billion, a P/E ratio of 208.45, a price-to-earnings-growth ratio of 8.09 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. ARM had a net margin of 16.96% and a return on equity of 15.56%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts predict that ARM will post 0.9 EPS for the current fiscal year.

Institutional Trading of ARM

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group purchased a new stake in ARM during the 2nd quarter valued at about $39,000. Brooklyn Investment Group purchased a new stake in ARM during the 1st quarter valued at about $28,000. GeoWealth Management LLC grew its stake in ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company's stock valued at $32,000 after acquiring an additional 92 shares in the last quarter. TFC Financial Management Inc. grew its stake in ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock valued at $28,000 after acquiring an additional 165 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in ARM during the 2nd quarter valued at about $48,000. Hedge funds and other 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.