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

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

A number of other equities analysts also recently commented on ARM. Deutsche Bank Aktiengesellschaft downgraded ARM from a buy rating to a hold rating and raised their price objective for the stock from $60.00 to $70.00 in a report on Monday, December 18th. KeyCorp raised their price objective on ARM from $120.00 to $135.00 and gave the stock an overweight rating in a report on Monday, April 8th. TD Cowen increased their target price on ARM from $80.00 to $95.00 and gave the company an outperform rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised 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, Barclays raised 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, ARM currently has an average rating of Hold and a consensus target price of 90.28.

ARM Stock Performance

Shares of NASDAQ:ARM opened at 87.19 on Tuesday. ARM has a 52-week low of 46.50 and a 52-week high of 164.00. The stock’s fifty day simple moving average is 128.44 and its 200-day simple moving average is 86.35.

ARM (NASDAQ:ARM) last released its earnings results 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 business had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. The company’s revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that ARM will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

A number of institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. acquired a new position in ARM during the 3rd quarter worth $581,000. Armstrong Advisory Group Inc. acquired a new stake in shares of ARM in the third quarter valued at $27,000. SG Americas Securities LLC acquired a new stake in shares of ARM in the third quarter valued at $170,000. Cedar Brook Financial Partners LLC acquired a new stake in shares of ARM in the third quarter valued at $206,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of ARM in the third quarter valued at $114,000. 7.53% of the stock is currently owned by institutional investors.

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.