KeyCorp Lowers ARM (NASDAQ:ARM) Price Target to $175.00

ARM (NASDAQ:ARM) had its price target dropped by research analysts at KeyCorp from $195.00 to $175.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 51.03% from the company’s current price.

Several other equities research analysts have also commented on the stock. Barclays lowered their price target on shares of ARM from $155.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Bank of America lowered their price target on ARM from $180.00 to $144.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Mizuho boosted their price target on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. The Goldman Sachs Group lifted their price target on ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley reduced their price objective on ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Two 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.67.

ARM Stock Performance

Shares of ARM stock opened at $115.87 on Thursday. ARM has a one year low of $80.00 and a one year high of $188.75. The company has a 50-day simple moving average of $110.45 and a two-hundred day simple moving average of $132.16. The company has a market capitalization of $121.41 billion, a PE ratio of 152.46, a P/E/G ratio of 6.33 and a beta of 4.39.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.36 EPS. On average, equities analysts predict that ARM will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

A number of large investors have recently modified their holdings of ARM. Bank of New York Mellon Corp boosted its holdings in ARM by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company’s stock worth $12,990,000 after buying an additional 5,440 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of ARM by 333.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,884 shares of the company’s stock worth $849,000 after acquiring an additional 5,297 shares in the last quarter. Clarus Wealth Advisors acquired a new stake in shares of ARM in the 4th quarter worth approximately $732,000. Envestnet Asset Management Inc. raised its position in ARM by 0.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company’s stock worth $5,320,000 after acquiring an additional 353 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of ARM in the fourth quarter valued at approximately $471,000. 7.53% of the stock is owned by hedge funds and other 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.