JPMorgan Chase & Co. Issues Positive Forecast for ARM (NASDAQ:ARM) Stock Price

ARM (NASDAQ:ARM) had its price target hoisted by JPMorgan Chase & Co. from $160.00 to $175.00 in a research report report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group lifted their target price on ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday. Susquehanna lifted their target price on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities lifted their price objective on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group lifted their price objective on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Mizuho lifted their price objective on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday. Two equities research 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. Based on data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Price Performance

NASDAQ ARM opened at $167.47 on Thursday. The stock’s 50-day moving average is $143.45 and its two-hundred day moving average is $139.80. The firm has a market cap of $175.48 billion, a P/E 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:ARM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. On average, equities analysts expect that ARM will post 0.84 EPS for the current year.

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in shares of ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after buying an additional 228,467 shares during the period. International Assets Investment Management LLC boosted its stake in ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares during the period. Raymond James Financial Inc. acquired a new position in ARM in the 4th quarter worth $32,655,000. Finally, Rheos Capital Works Inc. boosted its stake in ARM by 29.6% in the 4th quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock worth $30,211,000 after purchasing an additional 56,000 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

About ARM

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.