ARM (NASDAQ:ARM) Stock Rating Reaffirmed by Rosenblatt Securities

ARM (NASDAQ:ARM)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a report released on Monday, Benzinga reports. They presently have a $180.00 target price on the stock.

Other analysts also recently issued research reports about the stock. New Street Research restated a “neutral” rating and set a $110.00 price objective on shares of ARM in a research report on Tuesday, February 27th. Barclays raised their price objective on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Daiwa Capital Markets downgraded ARM from a “buy” rating to a “neutral” rating and boosted their target price for the company from $63.00 to $130.00 in a report on Friday, February 16th. Evercore ISI began coverage on ARM in a research note on Tuesday, April 16th. They set an “outperform” rating and a $156.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of 92.08.

ARM Price Performance

NASDAQ:ARM opened at 107.80 on Monday. The business’s fifty day moving average price is 121.56 and its 200 day moving average price is 90.46. ARM has a 12 month low of 46.50 and a 12 month high of 164.00.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to analyst estimates of 762.50 million. ARM’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that ARM will post 0.36 EPS for the current year.

Institutional Investors Weigh In On ARM

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Centerpoint Advisors LLC purchased a new position in ARM in the 3rd quarter valued at approximately $32,000. Ancora Advisors LLC acquired a new stake in ARM in the 3rd quarter valued at about $32,000. SOA Wealth Advisors LLC. purchased a new position in ARM during the 1st quarter valued at about $35,000. Bamco Inc. NY acquired a new position in ARM during the third quarter worth about $37,000. Finally, Naples Money Management LLC lifted its holdings in shares of ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after purchasing an additional 110 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.