ARM (NASDAQ:ARM) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of ARM (NASDAQ:ARM) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $156.00 target price on the stock.

Several other analysts have also commented on ARM. TD Cowen raised their price target on shares of ARM from $80.00 to $95.00 and gave the company an outperform rating in a research report on Thursday, February 8th. Susquehanna restated a neutral rating and set a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. New Street Research restated a neutral rating and set a $110.00 price target on shares of ARM in a research report on Tuesday, February 27th. Barclays raised their price target on shares of ARM from $65.00 to $105.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Finally, Mizuho raised their price target on shares of ARM from $100.00 to $160.00 and gave the company a buy rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of 89.88.

ARM Price Performance

Shares of ARM stock opened at 104.92 on Tuesday. The firm has a fifty day moving average price of 129.00 and a 200 day moving average price of 86.11. ARM has a 1 year low of 46.50 and a 1 year high of 164.00.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. ARM’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts expect that ARM will post 0.36 EPS for the current year.

Hedge Funds Weigh In On ARM

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC boosted its position in ARM by 15.7% during the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock worth $552,065,000 after acquiring an additional 994,551 shares during the last quarter. Schroder Investment Management Group acquired a new position in ARM during the fourth quarter worth about $480,194,000. FMR LLC acquired a new position in ARM during the third quarter worth about $242,812,000. Wellington Management Group LLP boosted its position in ARM by 56.4% during the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock worth $335,802,000 after acquiring an additional 1,611,926 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in ARM during the third quarter worth about $143,092,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.