ARM (NASDAQ:ARM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

ARM (NASDAQ:ARM) had its price objective boosted by JPMorgan Chase & Co. from $160.00 to $175.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 7.69% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. TD Cowen raised their target price on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price objective on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their target price on ARM from $155.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Rosenblatt Securities raised their price target on ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Susquehanna upped their price objective on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.17.

ARM Price Performance

Shares of ARM stock opened at $162.51 on Thursday. The stock’s 50-day moving average is $144.13 and its 200 day moving average is $140.00. ARM has a 1-year low of $85.61 and a 1-year high of $188.75. The company has a market cap of $170.28 billion, a P/E ratio of 270.85, a PEG ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. On average, analysts anticipate that ARM will post 0.84 EPS for the current year.

Institutional Investors Weigh In On ARM

Several hedge funds have recently modified their holdings of ARM. Franklin Resources Inc. raised its holdings in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares during the period. International Assets Investment Management LLC increased its position in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of ARM by 4,506.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock worth $107,774,000 after buying an additional 791,392 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after buying an additional 233,909 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in ARM in the 4th quarter valued at $32,655,000. 7.53% of the stock is owned by hedge funds and other 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.