ARM (NASDAQ:ARM) Price Target Raised to $185.00

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

A number of other analysts have also recently weighed in on ARM. TD Cowen boosted their price objective on shares of 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 price target on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho upped their price objective on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday. Loop Capital increased their target price on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Susquehanna boosted their price target on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.17.

ARM Price Performance

Shares of ARM stock traded down $7.17 on Thursday, hitting $166.09. The company had a trading volume of 5,961,015 shares, compared to its average volume of 6,956,033. ARM has a 52 week low of $72.25 and a 52 week high of $188.75. The business has a 50-day simple moving average of $143.45 and a 200-day simple moving average of $139.80. The company has a market cap of $174.03 billion, a PE ratio of 277.07, a PEG ratio of 7.46 and a beta of 4.56.

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

Institutional Investors Weigh In On ARM

Large investors have recently added to or reduced their stakes in the business. ORG Partners LLC bought a new stake in ARM in the 3rd quarter valued at $29,000. Gilliland Jeter Wealth Management LLC boosted its position in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares during the period. Quantbot Technologies LP acquired a new position in shares of ARM in the third quarter valued at about $52,000. Berbice Capital Management LLC bought a new position in ARM during the fourth quarter worth about $49,000. Finally, Farther Finance Advisors LLC raised its stake in 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 purchasing an additional 131 shares in the last quarter. 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.