ARM (NASDAQ:ARM) Given New $174.00 Price Target at The Goldman Sachs Group

ARM (NASDAQ:ARMFree Report) had its price objective raised by The Goldman Sachs Group from $159.00 to $174.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently issued reports on ARM. Rosenblatt Securities upped their target price on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday. Loop Capital increased their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Mizuho increased their price objective on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday. Evercore ISI increased their price objective on shares of ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.17.

View Our Latest Stock Report on ARM

ARM Stock Performance

Shares of ARM opened at $167.47 on Thursday. The firm’s 50-day simple moving average is $143.45 and its two-hundred day simple moving average is $139.80. The stock has a market cap of $175.48 billion, a PE ratio of 279.12, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56. ARM has a fifty-two week low of $72.25 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARMGet Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business’s revenue was up 4.7% 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 predict that ARM will post 0.84 EPS for the current year.

Institutional Investors Weigh In On ARM

Several institutional investors have recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in ARM by 4.0% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 6,982 shares of the company’s stock valued at $861,000 after buying an additional 269 shares in the last quarter. Raymond James Financial Inc. bought a new stake in ARM during the 4th quarter valued at about $32,655,000. Oak Grove Capital LLC bought a new stake in ARM during the 4th quarter valued at about $284,000. Victory Capital Management Inc. lifted its holdings in ARM by 2.1% during the 4th quarter. Victory Capital Management Inc. now owns 57,611 shares of the company’s stock valued at $7,107,000 after buying an additional 1,190 shares in the last quarter. Finally, Kapstone Financial Advisors LLC purchased a new position in ARM during the 4th quarter valued at about $215,000. Institutional investors own 7.53% of the company’s stock.

About ARM

(Get Free Report)

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.

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