ARM (NASDAQ:ARM) Given New $144.00 Price Target at Bank of America

ARM (NASDAQ:ARM) had its price objective cut by Bank of America from $180.00 to $144.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Barclays boosted their target price on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. upped their price target on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Rosenblatt Securities raised their price objective on ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. The Goldman Sachs Group lifted their price objective on ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley decreased their target price on shares of ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.05.

ARM Trading Down 2.7 %

Shares of ARM stock opened at $101.00 on Wednesday. The firm has a market capitalization of $105.83 billion, a price-to-earnings ratio of 132.90, a PEG ratio of 6.33 and a beta of 4.48. The business’s 50-day moving average price is $122.11 and its 200-day moving average price is $136.30. ARM has a 12 month low of $80.00 and a 12 month high of $188.75.

Institutional Trading of ARM

Hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ARM by 79.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,550 shares of the company’s stock valued at $937,000 after buying an additional 2,900 shares during the last quarter. Morse Asset Management Inc bought a new position in ARM in the 3rd quarter valued at about $212,000. State Street Corp boosted its stake in ARM by 19.2% during the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after purchasing an additional 35,720 shares during the last quarter. MML Investors Services LLC increased its holdings in ARM by 58.9% during the 3rd quarter. MML Investors Services LLC now owns 6,323 shares of the company’s stock worth $904,000 after purchasing an additional 2,343 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of ARM by 6.9% in the third quarter. Geode Capital Management LLC now owns 107,683 shares of the company’s stock worth $15,400,000 after purchasing an additional 6,959 shares during the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.