ARM (NASDAQ:ARM) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of ARM (NASDAQ:ARM) in a research note published on Friday morning, Marketbeat reports. The brokerage issued an overweight rating and a $155.00 price objective on the stock.

Several other research analysts have also recently commented on ARM. The Goldman Sachs Group upped their target price on shares of ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a report on Thursday, August 8th. TD Cowen lifted their target price on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Benchmark assumed coverage on shares of ARM in a research report on Monday, September 16th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.86.

ARM Stock Up 2.1 %

NASDAQ:ARM opened at $135.99 on Friday. ARM has a fifty-two week low of $60.37 and a fifty-two week high of $188.75. The company has a market cap of $142.50 billion, a P/E ratio of 226.65, a P/E/G ratio of 6.65 and a beta of 5.40. The firm’s 50 day moving average is $143.30 and its two-hundred day moving average is $140.87.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share 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 company 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 business earned $0.36 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that ARM will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of ARM

Several institutional investors have recently made changes to their positions in ARM. ORG Partners LLC bought a new position in ARM during the third quarter worth about $29,000. Transcendent Capital Group LLC acquired a new stake in ARM in the 2nd quarter valued at $33,000. Gilliland Jeter Wealth Management LLC grew its position in 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. RiverPark Advisors LLC raised its stake in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in ARM during the second quarter worth $41,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.