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

ARM (NASDAQ:ARM) had its target price raised by Wells Fargo & Company from $100.00 to $115.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on ARM. New Street Research reiterated a neutral rating and issued a $110.00 price target on shares of ARM in a report on Tuesday, February 27th. JPMorgan Chase & Co. increased their target price on shares of ARM from $70.00 to $100.00 and gave the stock an overweight rating in a report on Thursday, February 8th. TD Cowen increased their target price on shares of ARM from $80.00 to $95.00 and gave the stock an outperform rating in a report on Thursday, February 8th. BNP Paribas cut shares of ARM from an outperform rating to a neutral rating and set a $100.00 target price for the company. in a report on Friday, April 19th. Finally, Evercore ISI initiated coverage on shares of ARM in a report on Tuesday, April 16th. They set an outperform rating and a $156.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ARM presently has an average rating of Hold and a consensus target price of 92.08.

ARM Trading Down 5.8 %

ARM stock opened at 95.29 on Monday. ARM has a twelve month low of 46.50 and a twelve month high of 164.00. The company has a 50 day moving average of 123.59 and a 200-day moving average of 89.12.

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

Hedge Funds Weigh In On ARM

Several large investors have recently modified their holdings of the stock. Mission Wealth Management LP bought a new position in shares of ARM in the first quarter valued at about $223,000. Diversify Advisory Services LLC acquired a new position in shares of ARM in the first quarter valued at about $420,000. Private Advisor Group LLC grew its stake in shares of ARM by 83.4% in the first quarter. Private Advisor Group LLC now owns 5,509 shares of the company’s stock valued at $689,000 after acquiring an additional 2,505 shares in the last quarter. Consolidated Portfolio Review Corp acquired a new position in shares of ARM in the first quarter valued at about $2,459,000. Finally, Hartline Investment Corp acquired a new position in shares of ARM in the first quarter valued at about $750,000. 7.53% of the stock is 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.