ARM (NASDAQ:ARM) Receives Hold Rating from Needham & Company LLC

ARM (NASDAQ:ARM)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

A number of other equities analysts also recently issued reports on ARM. TD Cowen reduced their price target on ARM from $200.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company reduced their target price on ARM from $185.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Raymond James boosted their price target on ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. UBS Group decreased their price objective on shares of ARM from $215.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group boosted their target price on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.45.

ARM Stock Up 1.2 %

Shares of ARM stock opened at $123.85 on Thursday. ARM has a 52-week low of $80.00 and a 52-week high of $188.75. The firm’s 50 day moving average price is $110.67 and its 200-day moving average price is $132.66. The company has a market cap of $129.78 billion, a P/E ratio of 162.96, a PEG ratio of 6.33 and a beta of 4.39.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. TFC Financial Management Inc. grew its position in shares of ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 165 shares during the period. GeoWealth Management LLC boosted its position in ARM by 53.8% during the fourth quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after purchasing an additional 92 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in ARM in the first quarter valued at approximately $34,000. Colonial Trust Co SC purchased a new stake in shares of ARM in the fourth quarter valued at approximately $40,000. Finally, Berbice Capital Management LLC acquired a new position in shares of ARM during the 4th quarter worth approximately $49,000. 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.