ARM (NASDAQ:ARM) Given New $162.00 Price Target at Wells Fargo & Company

ARM (NASDAQ:ARM) had its target price upped by research analysts at Wells Fargo & Company from $155.00 to $162.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 17.60% from the stock’s current price.

Several other brokerages have also issued reports on ARM. Benchmark began coverage on ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. UBS Group assumed coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price target on the stock. Loop Capital raised their target price on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, November 7th. Finally, Susquehanna upped their target price on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.64.

ARM Price Performance

Shares of NASDAQ ARM traded down $2.73 during mid-day trading on Monday, reaching $137.76. The company’s stock had a trading volume of 1,276,114 shares, compared to its average volume of 4,483,350. The stock has a fifty day moving average of $137.36 and a two-hundred day moving average of $141.75. The firm has a market capitalization of $144.35 billion, a PE ratio of 229.60, a P/E/G 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.

ARM (NASDAQ:ARM) last announced its quarterly earnings data 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. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same period last year, the firm posted $0.36 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Analysts anticipate that ARM will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Partners LLC purchased a new position in ARM during the third quarter worth approximately $29,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of ARM by 83.0% in the 3rd 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 last quarter. Quantbot Technologies LP purchased a new position in shares of ARM during the 3rd quarter worth $52,000. Farther Finance Advisors LLC grew its holdings in shares of ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after purchasing an additional 131 shares during the period. Finally, First Community Trust NA acquired a new position in ARM in the third quarter valued at approximately $70,000. 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.