Brokerages Set ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) PT at $168.52

ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) has been given an average rating of “Moderate Buy” by the twenty-seven ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $168.5238.

ARM has been the subject of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 target price on shares of ARM in a research report on Thursday, July 31st. BNP Paribas Exane raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Wednesday, July 16th. Evercore ISI increased their price objective on shares of ARM from $173.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Mizuho increased their price objective on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, July 3rd. Finally, Wells Fargo & Company increased their price objective on shares of ARM from $145.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, July 21st.

ARM Stock Performance

Shares of ARM stock opened at $159.35 on Friday. ARM has a 52-week low of $80.00 and a 52-week high of $182.88. The stock has a market cap of $168.35 billion, a price-to-earnings ratio of 241.44, a P/E/G ratio of 9.50 and a beta of 4.10. The firm has a fifty day moving average of $142.78 and a 200-day moving average of $134.29.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. ARM had a net margin of 16.96% and a return on equity of 15.56%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. On average, sell-side analysts predict that ARM will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On ARM

A number of hedge funds have recently added to or reduced their stakes in the stock. Veracity Capital LLC grew its holdings in ARM by 100.8% during the 3rd quarter. Veracity Capital LLC now owns 4,344 shares of the company’s stock worth $615,000 after acquiring an additional 2,181 shares during the last quarter. Accel Wealth Management raised its stake in shares of ARM by 2.2% during the third quarter. Accel Wealth Management now owns 3,598 shares of the company’s stock worth $509,000 after buying an additional 79 shares during the last quarter. Ransom Advisory Ltd raised its stake in shares of ARM by 17.5% during the third quarter. Ransom Advisory Ltd now owns 670 shares of the company’s stock worth $95,000 after buying an additional 100 shares during the last quarter. Sanders Morris Harris LLC raised its stake in shares of ARM by 70.6% during the third quarter. Sanders Morris Harris LLC now owns 2,417 shares of the company’s stock worth $342,000 after buying an additional 1,000 shares during the last quarter. Finally, Mirador Capital Partners LP bought a new stake in shares of ARM during the third quarter worth approximately $367,000. 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.