Bank of America Cuts ARM (NASDAQ:ARM) Price Target to $144.00

ARM (NASDAQ:ARM) had its target price dropped by stock analysts at Bank of America from $180.00 to $144.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 38.73% from the stock’s current price.

ARM has been the subject of a number of other research reports. Raymond James upped their price objective on shares of ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Rosenblatt Securities raised their price objective on shares of ARM from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Loop Capital lifted their price objective on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a report on Monday, February 10th. Evercore ISI increased their target price on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. lifted their price target on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.05.

ARM Trading Down 1.2 %

NASDAQ:ARM opened at $103.80 on Wednesday. ARM has a 12-month low of $80.00 and a 12-month high of $188.75. The stock’s 50 day simple moving average is $123.34 and its 200-day simple moving average is $136.54. The firm has a market cap of $108.77 billion, a P/E ratio of 136.58, a PEG ratio of 6.33 and a beta of 4.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARM. GPS Wealth Strategies Group LLC grew its holdings in shares of ARM by 1.3% during the first quarter. GPS Wealth Strategies Group LLC now owns 22,467 shares of the company’s stock worth $2,399,000 after buying an additional 296 shares in the last quarter. Nepsis Inc. purchased a new stake in ARM in the 1st quarter worth approximately $9,183,000. Simplicity Wealth LLC acquired a new position in ARM in the 1st quarter valued at $1,313,000. Parisi Gray Wealth Management lifted its stake in shares of ARM by 9.4% during the 1st quarter. Parisi Gray Wealth Management now owns 8,061 shares of the company’s stock worth $861,000 after purchasing an additional 691 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of ARM by 85.7% during the first quarter. Farther Finance Advisors LLC now owns 1,616 shares of the company’s stock worth $173,000 after purchasing an additional 746 shares during the last quarter. 7.53% of the stock is currently owned by hedge funds and other 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.