ARM (NASDAQ:ARM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

ARM (NASDAQ:ARM) had its price objective increased by equities research analysts at Wells Fargo & Company from $155.00 to $162.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 15.66% from the company’s previous close.

Several other analysts have also commented on ARM. Evercore ISI increased their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Barclays upped their target price on ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Susquehanna boosted their price target on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Loop Capital increased their price objective on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $150.64.

ARM Stock Up 2.2 %

Shares of ARM stock opened at $140.06 on Monday. The firm has a market cap of $146.76 billion, a price-to-earnings ratio of 233.44, a PEG ratio of 7.15 and a beta of 4.53. ARM has a 52-week low of $66.66 and a 52-week high of $188.75. The company’s 50 day moving average is $137.34 and its 200 day moving average is $141.38.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. Analysts anticipate that ARM will post 0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On ARM

Several institutional investors have recently made changes to their positions in the company. ORG Partners LLC purchased a new stake in ARM during the third quarter worth $29,000. Gilliland Jeter Wealth Management LLC raised its position in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the period. Quantbot Technologies LP purchased a new stake in shares of ARM during the 3rd quarter worth about $52,000. Farther Finance Advisors LLC boosted its stake in shares of ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares in the last quarter. Finally, First Community Trust NA acquired a new stake in shares of ARM during the 3rd quarter valued at about $70,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Company Profile

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.