ARM (NASDAQ:ARM) Earns “Hold” Rating from Needham & Company LLC

ARM (NASDAQ:ARM)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

A number of other research analysts have also recently issued reports on ARM. Citigroup raised their price target on shares of ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research report on Thursday, October 31st. TD Cowen increased their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday. Daiwa America upgraded shares of ARM from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Daiwa Capital Markets raised ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.43.

ARM Stock Up 2.9 %

ARM opened at $144.68 on Thursday. The firm’s 50-day moving average price is $141.27 and its 200-day moving average price is $137.49. The company has a market cap of $151.60 billion, a P/E ratio of 370.98, a price-to-earnings-growth ratio of 6.45 and a beta of 5.40. ARM has a 52-week low of $49.82 and a 52-week high of $188.75.

Institutional Investors Weigh In On ARM

Institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC lifted its holdings in ARM by 83.4% in the 1st quarter. Private Advisor Group LLC now owns 5,509 shares of the company’s stock valued at $689,000 after purchasing an additional 2,505 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of ARM in the first quarter valued at about $222,000. Empowered Funds LLC purchased a new position in shares of ARM in the first quarter worth about $252,000. SG Americas Securities LLC boosted its position in ARM by 260.6% during the first quarter. SG Americas Securities LLC now owns 19,809 shares of the company’s stock worth $2,476,000 after acquiring an additional 14,315 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in ARM by 5.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 16,249 shares of the company’s stock valued at $2,031,000 after acquiring an additional 911 shares in the last quarter. 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.