JPMorgan Chase & Co. Cuts ARM (NASDAQ:ARM) Price Target to $150.00

ARM (NASDAQ:ARM) had its price target lowered by JPMorgan Chase & Co. from $175.00 to $150.00 in a research note published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on ARM. Wells Fargo & Company decreased their target price on ARM from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday. Benchmark restated a “hold” rating on shares of ARM in a report on Thursday. KGI Securities assumed coverage on shares of ARM in a report on Tuesday, April 15th. They set a “neutral” rating on the stock. Barclays dropped their price target on shares of ARM from $155.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Raymond James increased their price objective on ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.67.

ARM Trading Down 0.6 %

Shares of NASDAQ:ARM opened at $115.87 on Thursday. The company has a market capitalization of $121.41 billion, a price-to-earnings ratio of 152.46, a PEG 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 business has a 50-day moving average price of $110.45 and a 200 day moving average price of $132.09.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business 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%. The business’s revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. As a group, equities research analysts predict that ARM will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

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