Several other equities analysts have also weighed in on ARM. KeyCorp increased their price target on shares of ARM from $75.00 to $120.00 and gave the company 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 set a hold rating and a $58.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of ARM from $70.00 to $100.00 and gave the stock an overweight rating in a research report on Thursday. Wells Fargo & Company began coverage on shares of ARM in a research report on Monday, November 20th. They set an overweight rating and a $70.00 target price for the company. Finally, TD Cowen raised their target price on shares of ARM from $80.00 to $95.00 and gave the company an outperform rating in a research note on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of 74.23.
ARM Stock Performance
ARM (NASDAQ:ARM – Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts anticipate that ARM will post 1.06 earnings per share for the current year.
Hedge Funds Weigh In On ARM
A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC raised its position in ARM by 15.7% in the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after buying an additional 994,551 shares during the last quarter. FMR LLC bought a new stake in shares of ARM during the 3rd quarter valued at about $242,812,000. Wellington Management Group LLP bought a new stake in shares of ARM during the 3rd quarter valued at about $152,896,000. Invesco Ltd. bought a new stake in shares of ARM during the 3rd quarter valued at about $143,092,000. Finally, Intel Corp bought a new stake in shares of ARM during the 3rd quarter valued at about $62,965,000.
ARM Company Profile
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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