Raymond James Cuts ARM (NASDAQ:ARM) Price Target to $140.00

ARM (NASDAQ:ARM) had its target price reduced by Raymond James from $175.00 to $140.00 in a research note released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

ARM has been the subject of several other reports. Bank of America cut their target price on shares of ARM from $144.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. Wells Fargo & Company cut their price objective on shares of ARM from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday. Loop Capital raised their target price on ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Cfra Research raised ARM to a “hold” rating in a report on Friday, March 21st. Finally, Barclays decreased their price objective on ARM from $155.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Two equities 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $154.67.

ARM Trading Down 0.6 %

NASDAQ:ARM opened at $115.87 on Thursday. The company has a market cap of $121.41 billion, a PE ratio of 152.46, a price-to-earnings-growth ratio of 6.33 and a beta of 4.39. The company has a 50 day simple moving average of $110.45 and a two-hundred day simple moving average of $132.09. ARM has a 12 month low of $80.00 and a 12 month high of $188.75.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. ARM had a return on equity of 11.94% and a net margin of 21.82%. ARM’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. Research analysts forecast that ARM will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On ARM

A number of hedge funds have recently bought and sold shares of the business. TFC Financial Management Inc. increased its holdings in shares of ARM by 163.4% in the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock worth $28,000 after buying an additional 165 shares during the last quarter. GeoWealth Management LLC grew its position in ARM by 53.8% in the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after acquiring an additional 92 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in ARM during the first quarter worth approximately $34,000. Colonial Trust Co SC purchased a new stake in ARM during the fourth quarter valued at approximately $40,000. Finally, Berbice Capital Management LLC bought a new stake in shares of ARM in the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Company Profile

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.