ARM (NASDAQ:ARM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

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

Other analysts also recently issued reports about the company. TD Cowen increased their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their target price on ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Susquehanna lifted their price objective on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. UBS Group started coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 target price for the company. Finally, Loop Capital upped their price objective on ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.64.

ARM Trading Down 1.9 %

ARM stock 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 company has a market cap of $144.35 billion, a price-to-earnings ratio of 229.60, a price-to-earnings-growth ratio of 7.15 and a beta of 4.53. ARM has a 12 month low of $66.66 and a 12 month high of $188.75. The business’s 50 day moving average price is $137.36 and its 200 day moving average price is $141.75.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) 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 business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter 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. As a group, equities analysts expect that ARM will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. ORG Partners LLC bought a new stake in ARM during the 3rd quarter valued at approximately $29,000. Gilliland Jeter Wealth Management LLC raised its holdings in ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. Quantbot Technologies LP purchased a new position in ARM during the third quarter valued at $52,000. Farther Finance Advisors LLC increased its stake in shares of ARM by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares in the last quarter. Finally, First Community Trust NA bought a new stake in ARM during the third quarter worth about $70,000. 7.53% of the stock is owned by institutional investors.

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.