ARM (NASDAQ:ARM) Price Target Cut to $155.00 by Analysts at Loop Capital

ARM (NASDAQ:ARM) had its price objective cut by Loop Capital from $195.00 to $155.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on ARM. JPMorgan Chase & Co. decreased their price target on shares of ARM from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Citigroup decreased their price target on shares of ARM from $200.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Benchmark reaffirmed a “hold” rating on shares of ARM in a report on Thursday, May 8th. Jefferies Financial Group upped their price target on shares of ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, KeyCorp decreased their price target on shares of ARM from $195.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $152.76.

ARM Price Performance

Shares of ARM stock opened at $133.07 on Tuesday. The company’s fifty day simple moving average is $111.11 and its two-hundred day simple moving average is $131.75. ARM has a 1 year low of $80.00 and a 1 year high of $188.75. The stock has a market capitalization of $139.44 billion, a price-to-earnings ratio of 175.09, a PEG ratio of 6.33 and a beta of 4.39.

ARM (NASDAQ:ARM) last released its quarterly 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 firm 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%. The business’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Equities research analysts anticipate that ARM will post 0.9 EPS for the current year.

Institutional Trading of ARM

Several institutional investors have recently added to or reduced their stakes in ARM. Goldman Sachs Group Inc. boosted its position in ARM by 59.3% during the first quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company’s stock valued at $702,129,000 after buying an additional 2,446,224 shares during the period. Sustainable Growth Advisers LP purchased a new stake in ARM during the first quarter valued at about $170,287,000. Artisan Partners Limited Partnership boosted its position in ARM by 48.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock valued at $327,088,000 after buying an additional 860,716 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in ARM by 4,506.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after buying an additional 791,392 shares during the period. Finally, Schroder Investment Management Group boosted its position in ARM by 17.9% during the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock valued at $376,782,000 after buying an additional 464,719 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.