ARM (NASDAQ:ARM) Upgraded to "Strong-Buy" at Seaport Res Ptn

Key Points

• ARM has received a "strong-buy" upgrade from Seaport Res Ptn, reflecting increased confidence in the company's stock.
• KeyCorp and Mizuho also raised their target prices for ARM to $190 and $180 respectively, indicating a positive outlook from multiple analysts.
• ARM's most recent earnings report showed a revenue increase of 12.1% year-over-year, along with an EPS of $0.35, beating expectations slightly.

ARM (NASDAQ:ARM - Get Free Report) was upgraded by investment analysts at Seaport Res Ptn to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

ARM has been the topic of several other research reports. KeyCorp reissued an "overweight" rating and set a $190.00 target price (up previously from $175.00) on shares of ARM in a research report on Thursday, July 31st. Mizuho lifted their target price on shares of ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Raymond James Financial lifted their target price on shares of ARM from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on shares of ARM in a research report on Thursday, July 10th. They set a "neutral" rating and a $160.00 target price on the stock. Finally, Loop Capital dropped their target price on shares of ARM from $195.00 to $155.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $169.67.

ARM Trading Up 1.8%

Shares of ARM stock opened at $141.05 on Monday. The business has a 50-day moving average price of $148.09 and a two-hundred day moving average price of $133.37. ARM has a 1-year low of $80.00 and a 1-year high of $182.88. The company has a market cap of $149.02 billion, a P/E ratio of 213.71, a PEG ratio of 9.26 and a beta of 4.17.

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

Hedge Funds Weigh In On ARM

Several hedge funds and other institutional investors have recently modified their holdings of ARM. Sowell Financial Services LLC bought a new position in ARM in the first quarter worth about $229,000. Envestnet Asset Management Inc. raised its stake in ARM by 0.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after buying an additional 353 shares in the last quarter. Geode Capital Management LLC raised its stake in ARM by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after buying an additional 848 shares in the last quarter. Spire Wealth Management grew its holdings in ARM by 15.7% in the first quarter. Spire Wealth Management now owns 1,174 shares of the company's stock worth $125,000 after purchasing an additional 159 shares during the period. Finally, Cerity Partners LLC grew its holdings in ARM by 19.2% in the first quarter. Cerity Partners LLC now owns 14,671 shares of the company's stock worth $1,567,000 after purchasing an additional 2,358 shares during the period. 7.53% of the stock is owned by institutional investors.

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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