Wells Fargo & Company Increases ARM (NASDAQ:ARM) Price Target to $115.00

ARM (NASDAQ:ARM) had its target price increased by stock analysts at Wells Fargo & Company from $100.00 to $115.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock.

ARM has been the topic of a number of other research reports. Mizuho upped their target price on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Barclays increased their target price on ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. boosted their price target on ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. New Street Research restated a “neutral” rating and set a $110.00 price objective on shares of ARM in a research note on Tuesday, February 27th. Finally, Rosenblatt Securities lifted their price objective on shares of ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, ARM has an average rating of “Hold” and a consensus target price of 92.08.

ARM Stock Performance

ARM stock opened at 101.21 on Monday. The stock’s 50 day moving average is 124.15 and its two-hundred day moving average is 89.08. ARM has a 52-week low of 46.50 and a 52-week high of 164.00.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, topping analysts’ consensus estimates of 0.25 by 0.04. The company had revenue of 824.00 million for the quarter, compared to analyst estimates of 762.50 million. ARM’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts predict that ARM will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC boosted its position in shares of ARM by 15.7% during the 4th quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock valued at $552,065,000 after purchasing an additional 994,551 shares in the last quarter. Schroder Investment Management Group acquired a new position in ARM in the fourth quarter worth approximately $480,194,000. FMR LLC acquired a new position in ARM in the third quarter worth approximately $242,812,000. Wellington Management Group LLP increased its holdings in shares of ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after buying an additional 1,611,926 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in shares of ARM during the 3rd quarter valued at $143,092,000. 7.53% of the stock is currently owned by 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.