Bank of America Has Lowered Expectations for ARM (NASDAQ:ARM) Stock Price

ARM (NASDAQ:ARM) had its price target lowered by equities researchers at Bank of America from $144.00 to $135.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 16.51% from the stock’s current price.

Several other equities research analysts also recently weighed in on ARM. Cfra Research raised shares of ARM to a “hold” rating in a research report on Friday, March 21st. Raymond James upped their price target on ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company reduced their price objective on ARM from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday. Rosenblatt Securities dropped their price target on shares of ARM from $203.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Guggenheim dropped their price target on ARM from $180.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $154.67.

ARM Stock Performance

NASDAQ ARM opened at $115.87 on Thursday. The company has a market capitalization of $121.41 billion, a P/E ratio of 152.46, a P/E/G ratio of 6.33 and a beta of 4.39. ARM has a 52-week low of $80.00 and a 52-week high of $188.75. The company has a fifty day moving average of $110.45 and a 200-day moving average of $132.16.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. As a group, analysts forecast that ARM will post 0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Institutional investors have recently bought and sold shares of the business. TFC Financial Management Inc. lifted its stake in shares of ARM by 163.4% during the first quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 165 shares in the last quarter. GeoWealth Management LLC lifted its position in ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after acquiring an additional 92 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in ARM in the 1st quarter worth approximately $34,000. Colonial Trust Co SC acquired a new stake in ARM in the fourth quarter valued at approximately $40,000. Finally, Berbice Capital Management LLC purchased a new stake in shares of ARM during the fourth quarter valued at approximately $49,000. 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.