ARM (NASDAQ:ARM) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of ARM (NASDAQ:ARM) in a report issued on Monday morning, Benzinga reports. Rosenblatt Securities currently has a $180.00 target price on the stock.

Other analysts have also issued research reports about the stock. Evercore ISI started coverage on shares of ARM in a research report on Tuesday, April 16th. They set an outperform rating and a $156.00 price target on the stock. 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 note on Thursday, February 8th. Mizuho boosted their price objective on shares of ARM from $100.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, March 7th. TD Cowen lifted their price objective on ARM from $80.00 to $95.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Finally, KeyCorp increased their target price on shares of ARM from $120.00 to $135.00 and gave the company an overweight rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ARM has a consensus rating of Hold and a consensus target price of 91.64.

ARM Stock Performance

NASDAQ:ARM opened at 103.59 on Monday. ARM has a 12-month low of 46.50 and a 12-month high of 164.00. The stock’s 50 day moving average price is 120.40 and its two-hundred day moving average price is 90.99.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, topping the consensus estimate of 0.30 by 0.06. The company had revenue of 928.00 million for the quarter, compared to the consensus estimate of 865.94 million. The business’s quarterly revenue was up 46.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. Equities analysts predict that ARM will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Centerpoint Advisors LLC purchased a new position in shares of ARM in the third quarter worth about $32,000. Ancora Advisors LLC bought a new position in ARM in the third quarter valued at $32,000. SOA Wealth Advisors LLC. bought a new stake in shares of ARM in the 1st quarter worth approximately $35,000. Bamco Inc. NY purchased a new position in shares of ARM in the third quarter valued at about $37,000. Finally, Naples Money Management LLC grew its position in shares of ARM by 47.8% in the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after buying an additional 110 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

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.