Citigroup Cuts ARM (NASDAQ:ARM) Price Target to $170.00

ARM (NASDAQ:ARM) had its price target reduced by Citigroup from $200.00 to $170.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 46.72% from the stock’s current price.

ARM has been the subject of a number of other reports. The Goldman Sachs Group increased their target price on ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Bank of America dropped their price objective on shares of ARM from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. Benchmark reaffirmed a “hold” rating on shares of ARM in a research note on Thursday. TD Cowen reduced their price objective on ARM from $200.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Evercore ISI lifted their target price on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $154.67.

ARM Stock Down 0.6 %

Shares of ARM stock opened at $115.87 on Thursday. The stock has a market capitalization of $121.41 billion, a P/E ratio of 152.46, a price-to-earnings-growth ratio of 6.33 and a beta of 4.39. ARM has a 12-month low of $80.00 and a 12-month high of $188.75. The company has a 50-day simple moving average of $110.45 and a 200 day simple moving average of $132.16.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. ARM’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, equities analysts anticipate that ARM will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On ARM

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in ARM in the 4th quarter valued at $181,000. Diversified Trust Co bought a new position in shares of ARM in the fourth quarter worth $301,000. Watts Gwilliam & Co. LLC raised its stake in ARM by 15.5% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 8,109 shares of the company’s stock valued at $1,000,000 after purchasing an additional 1,088 shares in the last quarter. Crescent Sterling Ltd. lifted its position in ARM by 6.5% during the fourth quarter. Crescent Sterling Ltd. now owns 1,879 shares of the company’s stock worth $232,000 after purchasing an additional 114 shares during the period. Finally, Harbour Capital Advisors LLC grew its stake in ARM by 7.5% during the fourth quarter. Harbour Capital Advisors LLC now owns 8,135 shares of the company’s stock worth $1,004,000 after buying an additional 565 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors.

About ARM

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.