UBS Group Has Lowered Expectations for ARM (NASDAQ:ARM) Stock Price

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

ARM (NASDAQ:ARM - Get Free Report) had its price objective dropped by equities research analysts at UBS Group from $185.00 to $175.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target indicates a potential upside of 20.92% from the stock's current price.

ARM has been the subject of a number of other research reports. Guggenheim lifted their price objective on shares of ARM from $147.00 to $187.00 and gave the company a "buy" rating in a research report on Monday, June 30th. KeyCorp reaffirmed an "overweight" rating and set a $190.00 price objective (up from $175.00) on shares of ARM in a research report on Thursday. Bank of America cut their target price on shares of ARM from $144.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. TD Cowen increased their price target on shares of ARM from $155.00 to $175.00 and gave the company a "buy" rating in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on ARM from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, ARM currently has an average rating of "Moderate Buy" and a consensus price target of $165.13.

ARM Stock Performance

ARM stock traded down $18.61 during trading hours on Thursday, reaching $144.72. 10,353,698 shares of the company's stock traded hands, compared to its average volume of 5,472,683. The firm has a market capitalization of $152.90 billion, a price-to-earnings ratio of 193.18, a PEG ratio of 9.36 and a beta of 4.19. The firm's 50 day moving average is $146.56 and its 200-day moving average is $134.48. ARM has a fifty-two week low of $80.00 and a fifty-two week high of $182.88.

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

Hedge Funds Weigh In On ARM

Hedge funds have recently modified their holdings of the company. Chicago Capital LLC increased its position in ARM by 0.5% during the 2nd quarter. Chicago Capital LLC now owns 15,732 shares of the company's stock valued at $2,544,000 after purchasing an additional 79 shares during the period. 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 worth $32,000 after buying an additional 92 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of ARM by 2.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,929 shares of the company's stock worth $608,000 after acquiring an additional 96 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in ARM by 4.1% during the fourth quarter. Sunbelt Securities Inc. now owns 2,785 shares of the company's stock worth $351,000 after acquiring an additional 110 shares in the last quarter. Finally, Compound Planning Inc. increased its stake in shares of ARM by 5.5% during the first quarter. Compound Planning Inc. now owns 2,305 shares of the company's stock valued at $246,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.