ARM (NASDAQ:ARM) Coverage Initiated at Raymond James

Analysts at Raymond James initiated coverage on shares of ARM (NASDAQ:ARM) in a research report issued on Friday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $160.00 price target on the stock. Raymond James’ target price indicates a potential upside of 14.96% from the company’s previous close.

Several other analysts also recently commented on ARM. Deutsche Bank Aktiengesellschaft raised their price objective on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. TD Cowen boosted their price objective on shares of ARM from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America raised their target price on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 17th. The Goldman Sachs Group boosted 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. Finally, Evercore ISI raised their price objective on ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.04.

ARM Stock Performance

Shares of ARM opened at $139.18 on Friday. The firm has a market capitalization of $145.84 billion and a price-to-earnings ratio of 149.28. ARM has a 52 week low of $46.50 and a 52 week high of $188.75. The business’s fifty day moving average price is $140.53 and its two-hundred day moving average price is $132.85.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. During the same quarter in the previous year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. As a group, research analysts forecast that ARM will post 0.82 EPS for the current year.

Institutional Investors Weigh In On ARM

Several institutional investors have recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC bought a new position in ARM in the 1st quarter valued at about $25,000. Transcendent Capital Group LLC bought a new stake in shares of ARM during the second quarter worth $33,000. SOA Wealth Advisors LLC. acquired a new position in ARM in the 1st quarter worth about $35,000. RiverPark Advisors LLC increased its stake in shares of ARM by 45.3% in the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares during the period. Finally, Mather Group LLC. acquired a new position in ARM in the 2nd quarter valued at approximately $41,000. 7.53% of the stock is currently owned by institutional investors.

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.