ARM (NASDAQ:ARM) Price Target Cut to $144.00 by Analysts at Bank of America

ARM (NASDAQ:ARM - Get Free Report) had its price target lowered by research analysts at Bank of America from $180.00 to $144.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price objective would indicate a potential upside of 42.96% from the company's previous close.

ARM has been the topic of a number of other reports. Barclays upped their target price on shares of ARM from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Cfra Research upgraded shares of ARM to a "hold" rating in a research note on Friday, March 21st. Rosenblatt Securities raised their price target on ARM from $180.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. The Goldman Sachs Group upped their price objective on ARM from $159.00 to $174.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Susquehanna boosted their target price on ARM from $118.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.05.

ARM Trading Down 0.3 %

ARM traded down $0.27 during mid-day trading on Wednesday, hitting $100.73. 3,121,979 shares of the stock were exchanged, compared to its average volume of 7,458,575. The firm's fifty day moving average is $119.77 and its two-hundred day moving average is $135.76. ARM has a 1-year low of $80.00 and a 1-year high of $188.75. The company has a market cap of $105.55 billion, a PE ratio of 132.54, a PEG ratio of 6.33 and a beta of 4.48.

Hedge Funds Weigh In On ARM

Several large investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership grew its stake in ARM by 48.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company's stock valued at $327,088,000 after buying an additional 860,716 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of ARM by 4,506.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company's stock valued at $107,774,000 after purchasing an additional 791,392 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of ARM by 17.9% during the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company's stock worth $376,782,000 after purchasing an additional 464,719 shares during the period. Marshall Wace LLP acquired a new stake in ARM during the 4th quarter worth approximately $51,901,000. Finally, Banque Transatlantique SA acquired a new stake in ARM during the 4th quarter worth approximately $37,440,000. 7.53% of the stock is owned by institutional investors.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.