ARM (NASDAQ:ARM) Research Coverage Started at Evercore ISI

Equities researchers at Evercore ISI assumed coverage on shares of ARM (NASDAQ:ARM) in a research note issued on Tuesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $156.00 price target on the stock.

Several other brokerages have also weighed in on ARM. The Goldman Sachs Group lifted their price objective on ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. TD Cowen lifted their target price on ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Barclays lifted their target price on ARM from $65.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. lifted their target price on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft lowered ARM from a “buy” rating to a “hold” rating and lifted their target price for the company from $60.00 to $70.00 in a report on Monday, December 18th. One 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of 89.88.

ARM Price Performance

Shares of ARM opened at 122.32 on Tuesday. The business has a 50-day moving average of 127.58 and a 200 day moving average of 85.34. ARM has a fifty-two week low of 46.50 and a fifty-two week high of 164.00.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analysts’ expectations of 762.50 million. ARM’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts expect that ARM will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Several hedge funds have recently made changes to their positions in ARM. Hoey Investments Inc. purchased a new position in shares of ARM during the third quarter valued at approximately $27,000. Armstrong Advisory Group Inc. purchased a new position in shares of ARM during the third quarter valued at approximately $27,000. Centerpoint Advisors LLC purchased a new position in shares of ARM during the third quarter valued at approximately $32,000. Ancora Advisors LLC purchased a new stake in ARM in the third quarter worth $32,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in ARM in the first quarter worth $35,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Company Profile

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.