Wells Fargo & Company Increases ARM (NASDAQ:ARM) Price Target to $185.00

ARM (NASDAQ:ARM) had its target price raised by equities research analysts at Wells Fargo & Company from $162.00 to $185.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 13.84% from the company’s current price.

ARM has been the topic of a number of other reports. UBS Group initiated coverage on ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 price objective on the stock. The Goldman Sachs Group increased their price target on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday. TD Cowen increased their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Raymond James boosted their price target on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and an average price target of $162.17.

ARM Stock Down 3.0 %

Shares of NASDAQ:ARM opened at $162.51 on Thursday. The company has a 50-day moving average price of $144.13 and a two-hundred day moving average price of $140.00. ARM has a twelve month low of $85.61 and a twelve month high of $188.75. The firm has a market capitalization of $170.28 billion, a PE ratio of 270.85, a P/E/G ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million during 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%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. Analysts anticipate that ARM will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

A number of large investors have recently added to or reduced their stakes in the company. Modus Advisors LLC boosted its holdings in shares of ARM by 300.2% during the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock worth $2,212,000 after purchasing an additional 13,453 shares during the period. KP Management LLC raised its position in ARM by 28.6% during the 3rd quarter. KP Management LLC now owns 45,000 shares of the company’s stock valued at $6,435,000 after purchasing an additional 10,000 shares during the last quarter. XTX Topco Ltd lifted its holdings in ARM by 150.1% in the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock worth $928,000 after buying an additional 3,893 shares during the period. Willner & Heller LLC increased its stake in shares of ARM by 193.7% during the third quarter. Willner & Heller LLC now owns 6,799 shares of the company’s stock valued at $972,000 after buying an additional 4,484 shares during the period. Finally, Avalon Global Asset Management LLC bought a new position in shares of ARM during the third quarter valued at approximately $8,581,000. 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.