ARM (NASDAQ:ARM) Coverage Initiated at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company assumed coverage on shares of ARM (NASDAQ:ARM) in a research report issued on Friday, Marketbeat.com reports. The firm set an “overweight” rating and a $155.00 price target on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.98% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of ARM in a research note on Thursday, August 1st. Susquehanna upped their price objective on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, November 7th. TD Cowen upped their price target on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Raymond James initiated coverage on ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective on the stock. Two equities research 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 stock. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average price target of $149.86.

ARM Price Performance

ARM stock opened at $135.99 on Friday. The company has a market capitalization of $142.49 billion, a P/E ratio of 226.65, a price-to-earnings-growth ratio of 6.65 and a beta of 5.40. ARM has a 12 month low of $60.37 and a 12 month high of $188.75. The firm’s fifty day simple moving average is $143.30 and its 200-day simple moving average is $140.63.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. As a group, sell-side analysts forecast that ARM will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARM. CreativeOne Wealth LLC purchased a new stake in ARM in the 1st quarter valued at about $267,000. Quadrature Capital Ltd purchased a new position in shares of ARM during the 1st quarter worth approximately $2,620,000. Lazard Asset Management LLC increased its holdings in ARM by 393.0% in the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after purchasing an additional 20,117 shares during the last quarter. BOKF NA raised its position in ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in ARM by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after purchasing an additional 14,584 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.