Wells Fargo & Company Issues Positive Forecast for ARM (NASDAQ:ARM) Stock Price

ARM (NASDAQ:ARM) had its price objective upped by equities research analysts at Wells Fargo & Company from $162.00 to $185.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 11.39% from the company’s previous close.

Other analysts have also issued reports about the company. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research note on Thursday, October 31st. Loop Capital upped their price objective 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. UBS Group initiated coverage on shares of ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price on the stock. Mizuho upped their price target on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Rosenblatt Securities raised their price objective on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Stock Down 4.1 %

Shares of NASDAQ:ARM traded down $7.17 during midday trading on Thursday, hitting $166.09. The stock had a trading volume of 5,961,015 shares, compared to its average volume of 6,956,033. The company’s 50-day moving average price is $143.45 and its 200-day moving average price is $139.80. ARM has a fifty-two week low of $72.25 and a fifty-two week high of $188.75. The company has a market capitalization of $174.03 billion, a P/E ratio of 277.07, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56.

ARM (NASDAQ:ARM) last released its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $810.03 million. During the same period in the prior year, the company earned $0.36 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts expect that ARM will post 0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Tufton Capital Management raised its holdings in shares of ARM by 1.5% in the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock worth $546,000 after purchasing an additional 65 shares during the period. Valley National Advisers Inc. raised its stake in shares of ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after buying an additional 72 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of ARM by 14.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after buying an additional 77 shares during the last quarter. Zullo Investment Group Inc. grew its stake in shares of ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock worth $236,000 after acquiring an additional 85 shares during the period. Finally, Gladstone Institutional Advisory LLC increased its holdings in ARM by 3.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company’s stock worth $409,000 after acquiring an additional 98 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

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.