UBS Group Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM) had its price target boosted by research analysts at UBS Group from $155.00 to $185.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 13.11% from the company’s current price.

ARM has been the subject of several other reports. Loop Capital cut their target price on shares of ARM from $195.00 to $155.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Guggenheim lifted their price target on shares of ARM from $147.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Rosenblatt Securities cut their target price on shares of ARM from $203.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Raymond James Financial dropped their target price on shares of ARM from $175.00 to $140.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.74.

ARM Stock Up 4.3%

Shares of NASDAQ:ARM traded up $6.82 on Monday, hitting $163.56. The company had a trading volume of 1,683,179 shares, compared to its average volume of 6,004,713. ARM has a 1 year low of $80.00 and a 1 year high of $182.88. The firm has a market capitalization of $172.80 billion, a price-to-earnings ratio of 217.17, a P/E/G ratio of 9.04 and a beta of 4.19. The firm’s 50-day simple moving average is $141.67 and its two-hundred day simple moving average is $133.37.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. ARM had a net margin of 19.76% and a return on equity of 17.97%. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. Equities research analysts anticipate that ARM will post 0.9 EPS for the current year.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently added to or reduced their stakes in ARM. Sowell Financial Services LLC bought a new position in ARM in the first quarter worth $229,000. Envestnet Asset Management Inc. raised its stake in ARM by 0.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company’s stock worth $5,320,000 after acquiring an additional 353 shares in the last quarter. Geode Capital Management LLC raised its stake in ARM by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 108,531 shares of the company’s stock worth $13,388,000 after acquiring an additional 848 shares in the last quarter. Spire Wealth Management raised its stake in ARM by 15.7% during the first quarter. Spire Wealth Management now owns 1,174 shares of the company’s stock worth $125,000 after acquiring an additional 159 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in ARM by 85.7% during the first quarter. Farther Finance Advisors LLC now owns 1,616 shares of the company’s stock worth $173,000 after acquiring an additional 746 shares in the last quarter. Institutional investors and hedge funds 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.