ARM (NASDAQ:ARM) Given New $145.00 Price Target at Evercore ISI

ARM (NASDAQ:ARM) had its target price dropped by research analysts at Evercore ISI from $156.00 to $145.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Daiwa Capital Markets lowered 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 research note on Friday, February 16th. Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of ARM in a research report on Monday. Susquehanna reiterated a “neutral” rating and set a $85.00 price objective on shares of ARM in a research note on Thursday, April 4th. Finally, New Street Research restated a “neutral” rating and set a $110.00 target price on shares of ARM in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of 91.64.

ARM Trading Down 1.6 %

NASDAQ:ARM opened at 106.07 on Thursday. The company’s 50 day moving average price is 120.96 and its 200-day moving average price is 90.88. ARM has a 52 week low of 46.50 and a 52 week high of 164.00.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The business had revenue of 824.00 million during the quarter, compared to analysts’ expectations of 762.50 million. ARM’s revenue for the quarter was up 13.8% compared to the same quarter last year. Sell-side analysts expect that ARM will post 0.36 EPS for the current year.

Hedge Funds Weigh In On ARM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centerpoint Advisors LLC acquired a new stake in shares of ARM in the 3rd quarter valued at $32,000. Ancora Advisors LLC purchased a new stake in ARM during the third quarter worth approximately $32,000. SOA Wealth Advisors LLC. purchased a new position in ARM in the first quarter valued at approximately $35,000. Bamco Inc. NY acquired a new stake in ARM during the third quarter worth approximately $37,000. Finally, Naples Money Management LLC raised its holdings in ARM by 47.8% during the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

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.