Barclays Increases ARM (NASDAQ:ARM) Price Target to $155.00

ARM (NASDAQ:ARM) had its price target hoisted by Barclays from $145.00 to $155.00 in a research report report published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on ARM. Evercore ISI upped their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. UBS Group initiated coverage on ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 price target on the stock. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a report on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price objective on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.09.

ARM Stock Performance

Shares of NASDAQ ARM opened at $149.26 on Friday. The business’s 50-day simple moving average is $137.33 and its 200-day simple moving average is $141.46. ARM has a 52 week low of $69.32 and a 52 week high of $188.75. The firm has a market cap of $156.40 billion, a price-to-earnings ratio of 248.77, a P/E/G ratio of 6.57 and a beta of 4.53.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. As a group, equities research analysts forecast that ARM will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. bought a new stake in ARM during the 2nd quarter worth about $5,885,000. Envestnet Asset Management Inc. raised its stake in shares of ARM by 20.0% during the second quarter. Envestnet Asset Management Inc. now owns 37,902 shares of the company’s stock worth $6,202,000 after buying an additional 6,311 shares during the last quarter. Blair William & Co. IL lifted its holdings in ARM by 128.1% in the second quarter. Blair William & Co. IL now owns 5,520 shares of the company’s stock valued at $903,000 after buying an additional 3,100 shares during the period. Elite Wealth Management Inc. boosted its stake in ARM by 89.8% in the second quarter. Elite Wealth Management Inc. now owns 41,496 shares of the company’s stock valued at $6,790,000 after acquiring an additional 19,633 shares during the last quarter. Finally, WealthTrust Asset Management LLC acquired a new stake in ARM during the 2nd quarter worth $1,083,000. 7.53% of the stock is owned by institutional investors and hedge funds.

About ARM

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.