Wells Fargo & Company Begins Coverage on ARM (NASDAQ:ARM)

Wells Fargo & Company initiated coverage on shares of ARM (NASDAQ:ARM) in a report released on Friday morning, MarketBeat reports. The brokerage issued an overweight rating and a $155.00 target price on the stock.

ARM has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of ARM in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their price objective on ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price target on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Daiwa America upgraded ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.86.

ARM Stock Performance

Shares of ARM stock opened at $135.99 on Friday. The firm has a fifty day moving average of $143.30 and a two-hundred day moving average of $140.87. The stock has a market capitalization of $142.50 billion, a price-to-earnings ratio of 226.65, a PEG ratio of 6.65 and a beta of 5.40. ARM has a 52 week low of $60.37 and a 52 week high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $810.03 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that ARM will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. CreativeOne Wealth LLC bought a new position in shares of ARM in the 1st quarter valued at about $267,000. Quadrature Capital Ltd bought a new position in ARM during the first quarter worth about $2,620,000. Lazard Asset Management LLC raised its stake in ARM by 393.0% in the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the period. BOKF NA lifted its position in shares of ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after buying an additional 100 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of ARM by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after acquiring an additional 14,584 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

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.