JPMorgan Chase & Co. Issues Positive Forecast for ARM (NASDAQ:ARM) Stock Price

ARM (NASDAQ:ARM) had its price target increased by JPMorgan Chase & Co. from $140.00 to $160.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

ARM has been the topic of a number of other research reports. Raymond James initiated coverage on ARM in a report on Friday, September 13th. They set an “outperform” rating and a $160.00 price objective on the stock. TD Cowen increased their price target on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday. Benchmark started coverage on shares of ARM in a report on Monday, September 16th. They set a “hold” rating on the stock. Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a report on Thursday, October 31st. Finally, William Blair began coverage on ARM in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.57.

ARM Stock Performance

ARM stock opened at $147.48 on Thursday. ARM has a one year low of $49.82 and a one year high of $188.75. The company has a fifty day moving average of $142.32 and a 200-day moving average of $138.30. The stock has a market capitalization of $154.53 billion, a PE ratio of 245.80, a price-to-earnings-growth ratio of 6.59 and a beta of 5.40.

ARM (NASDAQ:ARM) last announced its quarterly earnings data 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 14.14%. The firm had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter last year, the firm earned $0.36 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that ARM will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Institutional investors have recently modified their holdings of the company. Private Advisor Group LLC grew its stake in ARM by 83.4% in the 1st quarter. Private Advisor Group LLC now owns 5,509 shares of the company’s stock worth $689,000 after acquiring an additional 2,505 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of ARM during the first quarter worth $222,000. Empowered Funds LLC purchased a new stake in shares of ARM in the first quarter valued at $252,000. SG Americas Securities LLC increased its stake in ARM by 260.6% in 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 during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in ARM by 5.9% during the first quarter. Oppenheimer & Co. Inc. now owns 16,249 shares of the company’s stock worth $2,031,000 after buying an additional 911 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

About ARM

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.