ARM (NASDAQ:ARM) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of ARM (NASDAQ:ARM) in a research report report published on Thursday, Benzinga reports. Rosenblatt Securities currently has a $180.00 price target on the stock.

ARM has been the topic of several other reports. Guggenheim boosted their price objective on shares of ARM from $110.00 to $169.00 and gave the stock a buy rating in a research report on Tuesday, June 25th. Morgan Stanley raised shares of ARM from an equal weight rating to an overweight rating and upped their price objective for the company from $107.00 to $190.00 in a research note on Friday, July 19th. TD Cowen increased their price objective on shares of ARM from $125.00 to $150.00 and gave the company a buy rating in a research report on Thursday. BNP Paribas downgraded shares of ARM from an outperform rating to a neutral rating and set a $100.00 price target for the company. in a research report on Friday, April 19th. Finally, The Goldman Sachs Group raised their price target on shares of ARM from $110.00 to $143.00 and gave the stock a buy rating in a research report on Tuesday, June 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of 118.80.

ARM Price Performance

Shares of NASDAQ ARM traded down 6.68 during midday trading on Thursday, hitting 114.83. The company’s stock had a trading volume of 2,698,067 shares, compared to its average volume of 12,827,138. The business’s fifty day simple moving average is 153.80 and its two-hundred day simple moving average is 126.39. ARM has a 1 year low of 46.50 and a 1 year high of 188.75. The firm has a market capitalization of $120.32 billion and a price-to-earnings ratio of 153.37.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported 0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.35 by 0.05. ARM had a net margin of 12.12% and a return on equity of 19.58%. The company had revenue of 939.00 million during the quarter, compared to the consensus estimate of 905.53 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. Analysts anticipate that ARM will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Several institutional investors have recently made changes to their positions in the company. Jennison Associates LLC lifted its holdings 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 purchasing an additional 994,551 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of ARM during the fourth quarter worth approximately $480,194,000. Wellington Management Group LLP lifted its holdings in shares of ARM by 56.4% during the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after buying an additional 1,611,926 shares during the last quarter. Robeco Schweiz AG increased its position in shares of ARM by 220.3% during the fourth quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock valued at $160,059,000 after purchasing an additional 1,465,000 shares during the period. Finally, Mubadala Investment Co PJSC bought a new stake in shares of ARM during the fourth quarter valued at approximately $150,437,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.