ARM (NASDAQ:ARM) Coverage Initiated by Analysts at Evercore ISI

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

ARM has been the topic of several other research reports. Susquehanna reiterated a neutral rating and set a $85.00 price target on shares of ARM in a research report on Thursday, April 4th. Daiwa Capital Markets cut shares of ARM from a buy rating to a neutral rating and upped their price objective for the stock from $63.00 to $130.00 in a report on Friday, February 16th. TD Cowen upped their price objective on shares of ARM from $80.00 to $95.00 and gave the stock an outperform rating in a report on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective on shares of ARM from $70.00 to $100.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Finally, Rosenblatt Securities upped their price objective on shares of ARM from $140.00 to $180.00 and gave the stock a buy rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of 90.28.

ARM Stock Down 16.9 %

Shares of NASDAQ:ARM opened at 87.19 on Tuesday. The company has a 50-day moving average price of 128.44 and a 200-day moving average price of 86.35. ARM has a 12 month low of 46.50 and a 12 month high of 164.00.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARM. Hsbc Holdings PLC bought a new position in ARM in the third quarter worth approximately $219,000. Robeco Schweiz AG bought a new position in ARM in the third quarter worth approximately $35,591,000. American Century Companies Inc. bought a new position in ARM in the third quarter worth approximately $54,800,000. Citigroup Inc. bought a new position in ARM in the third quarter worth approximately $344,000. Finally, UG Investment Advisers Ltd. bought a new position in ARM in the third quarter worth approximately $3,568,000. Institutional investors own 7.53% of the company’s stock.

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.