Arm Holdings plc (NASDAQ:ARM) Receives $147.95 Average Price Target from Brokerages

Shares of Arm Holdings plc (NASDAQ:ARM) have received an average recommendation of “Moderate Buy” from the twenty-six brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $147.95.

A number of research firms recently issued reports on ARM. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research note on Thursday, October 31st. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Evercore ISI boosted their price objective on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Benchmark began coverage on shares of ARM in a report on Monday, September 16th. They set a “hold” rating on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, November 7th.

ARM Stock Performance

Shares of ARM stock opened at $128.66 on Tuesday. The stock has a market capitalization of $134.81 billion, a P/E ratio of 214.44, a P/E/G ratio of 6.43 and a beta of 5.40. ARM has a 52-week low of $55.27 and a 52-week high of $188.75. The stock’s 50-day simple moving average is $143.67 and its 200 day simple moving average is $140.07.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the prior year, the company posted $0.36 EPS. ARM’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that ARM will post 0.79 EPS for the current fiscal year.

Institutional Trading of ARM

Several large investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. bought a new stake in shares of ARM during the 1st quarter valued at $222,000. Empowered Funds LLC purchased a new stake in ARM in the first quarter worth about $252,000. SG Americas Securities LLC increased its stake in shares of ARM by 260.6% during the first quarter. SG Americas Securities LLC now owns 19,809 shares of the company’s stock valued at $2,476,000 after purchasing an additional 14,315 shares in the last quarter. NorthRock Partners LLC purchased a new position in shares of ARM during the first quarter valued at approximately $264,000. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of ARM in the 1st quarter worth approximately $249,000. 7.53% of the stock is 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.