ARM (NASDAQ:ARM – Get Free Report) had its target price increased by research analysts at TD Cowen from $80.00 to $95.00 in a research note issued to investors on Thursday, Briefing.com reports. The firm currently has an “outperform” rating on the stock.
Several other research analysts have also weighed in on ARM. Deutsche Bank Aktiengesellschaft lowered shares of ARM from a “buy” rating to a “hold” rating and raised their price objective for the stock from $60.00 to $70.00 in a report on Monday, December 18th. Wells Fargo & Company initiated coverage on shares of ARM in a research report on Monday, November 20th. They issued an “overweight” rating and a $70.00 price target on the stock. KeyCorp raised their price target on shares of ARM from $75.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. Societe Generale initiated coverage on shares of ARM in a research report on Thursday, October 19th. They issued a “hold” rating and a $58.00 price target on the stock. Finally, Mizuho raised their price target on shares of ARM from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and a consensus price target of 68.68.
ARM Stock Up 5.5 %
ARM (NASDAQ:ARM – Get Free Report) last released its quarterly earnings results on Wednesday, November 8th. The company reported 0.36 earnings per share for the quarter, beating analysts’ consensus estimates of 0.26 by 0.10. The firm had revenue of 806.00 million for the quarter, compared to analyst estimates of 739.71 million. ARM’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Equities analysts forecast that ARM will post 1.06 earnings per share for the current year.
Institutional Trading of ARM
A number of institutional investors and hedge funds have recently modified their holdings of ARM. Hoey Investments Inc. acquired a new stake in shares of ARM in the third quarter worth $27,000. Armstrong Advisory Group Inc. acquired a new stake in shares of ARM in the third quarter worth $27,000. Centerpoint Advisors LLC acquired a new stake in shares of ARM in the third quarter worth $32,000. Ancora Advisors LLC acquired a new stake in shares of ARM in the third quarter worth $32,000. Finally, Bamco Inc. NY acquired a new stake in shares of ARM in the third quarter worth $37,000.
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.
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