Guggenheim Cuts ARM (NASDAQ:ARM) Price Target to $147.00

ARM (NASDAQ:ARM) had its price target decreased by Guggenheim from $180.00 to $147.00 in a research report released on Thursday, Marketbeat Ratings reports. Guggenheim currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley dropped their target price on shares of ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Benchmark restated a “hold” rating on shares of ARM in a research report on Thursday. Rosenblatt Securities reduced their price objective on ARM from $203.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday. KGI Securities began coverage on ARM in a research report on Tuesday, April 15th. They issued a “neutral” rating for the company. Finally, Susquehanna increased their price target on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.67.

ARM Price Performance

NASDAQ ARM opened at $115.87 on Thursday. The company’s 50 day simple moving average is $110.45 and its two-hundred day simple moving average is $132.09. ARM has a 1 year low of $80.00 and a 1 year high of $188.75. The stock 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. ARM had a return on equity of 11.94% and a net margin of 21.82%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business posted $0.36 earnings per share. The firm’s revenue was up 33.7% compared to the same quarter last year. On average, research analysts anticipate that ARM will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in ARM during the fourth quarter valued at $181,000. Diversified Trust Co purchased a new position in ARM during the 4th quarter valued at about $301,000. Watts Gwilliam & Co. LLC boosted its stake in ARM by 15.5% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 8,109 shares of the company’s stock worth $1,000,000 after acquiring an additional 1,088 shares in the last quarter. Crescent Sterling Ltd. grew its holdings in ARM by 6.5% in 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 increased its stake in shares of ARM by 7.5% during the fourth quarter. Harbour Capital Advisors LLC now owns 8,135 shares of the company’s stock valued at $1,004,000 after purchasing an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.