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

ARM (NASDAQ:ARM) had its price target lifted by Wells Fargo & Company from $155.00 to $162.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Loop Capital lifted their price objective on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Benchmark started coverage on shares of ARM in a research note on Monday, September 16th. They issued a “hold” rating for the company. Evercore ISI increased their price objective on shares of ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, William Blair initiated coverage on ARM in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.64.

ARM Price Performance

Shares of NASDAQ ARM opened at $147.40 on Monday. ARM has a one year low of $66.66 and a one year high of $188.75. The firm has a market cap of $154.45 billion, a price-to-earnings ratio of 245.67, a P/E/G ratio of 7.15 and a beta of 4.53. The stock’s fifty day moving average price is $137.34 and its two-hundred day moving average price is $141.38.

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, topping 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 firm had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period in the prior year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that ARM will post 0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARM

Hedge funds have recently modified their holdings of the stock. ORG Partners LLC purchased a new stake in ARM during the 3rd quarter worth about $29,000. Gilliland Jeter Wealth Management LLC increased its stake in 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 purchasing an additional 117 shares during the period. Quantbot Technologies LP bought a new stake in ARM during the 3rd quarter valued at $52,000. Farther Finance Advisors LLC increased its holdings in ARM by 45.8% during the 3rd 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 purchased a new stake in ARM in the third quarter worth $70,000. Institutional investors own 7.53% of the company’s stock.

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.