ARM (NASDAQ:ARM) Earns Outperform Rating from Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of ARM (NASDAQ:ARM) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $156.00 price target on the stock.

A number of other analysts have also weighed in on ARM. TD Cowen increased their target price on shares of ARM from $80.00 to $95.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Barclays increased their price target on shares of ARM from $65.00 to $105.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. New Street Research reissued a neutral rating and issued a $110.00 price target on shares of ARM in a research note on Tuesday, February 27th. Daiwa Capital Markets downgraded shares of ARM from a buy rating to a neutral rating and increased their price target for the stock from $63.00 to $130.00 in a research note on Friday, February 16th. Finally, KeyCorp increased their price target on shares of ARM from $120.00 to $135.00 and gave the stock an overweight rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, ARM presently has a consensus rating of Moderate Buy and a consensus price target of 89.88.

ARM Trading Down 2.5 %

ARM stock opened at 104.92 on Tuesday. The firm has a 50-day moving average of 129.00 and a 200-day moving average of 86.11. ARM has a 1-year low of 46.50 and a 1-year high of 164.00.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts expect that ARM will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC boosted its stake in shares of ARM by 15.7% during the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after acquiring an additional 994,551 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of ARM during the 4th quarter valued at $480,194,000. FMR LLC bought a new stake in shares of ARM during the 3rd quarter valued at $242,812,000. Wellington Management Group LLP raised its position in shares of ARM by 56.4% during the 4th quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after purchasing an additional 1,611,926 shares during the period. Finally, Invesco Ltd. bought a new stake in shares of ARM during the 3rd quarter valued at $143,092,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.