JPMorgan Chase & Co. Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM) had its price target upped by JPMorgan Chase & Co. from $160.00 to $175.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 1.00% from the stock’s previous close.

ARM has been the subject of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday. Evercore ISI lifted their price objective on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays upped their price target on shares of ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Susquehanna increased their price target on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Mizuho raised their target price on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and a consensus target price of $159.22.

ARM Trading Up 6.8 %

NASDAQ:ARM opened at $173.26 on Thursday. The stock has a 50-day moving average price of $143.45 and a 200 day moving average price of $139.80. ARM has a 12-month low of $71.80 and a 12-month high of $188.75. The stock has a market capitalization of $181.55 billion, a P/E ratio of 288.77, a P/E/G ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, research analysts predict that ARM will post 0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after acquiring an additional 806,676 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares during the period. Rheos Capital Works Inc. lifted its position in shares of ARM by 29.6% during the fourth quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock worth $30,211,000 after purchasing an additional 56,000 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of ARM by 19.2% in the third quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after purchasing an additional 35,720 shares during the period. Institutional investors and hedge funds 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.