ARM (NASDAQ:ARM) Price Target Raised to $162.00

ARM (NASDAQ:ARM) had its price objective increased by research analysts at Wells Fargo & Company from $155.00 to $162.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 15.66% from the stock’s current price.

Several other analysts have also recently commented on the company. The Goldman Sachs Group boosted their price target on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays upped their target price on shares of ARM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target on the stock. in a research note on Thursday, October 31st. UBS Group assumed coverage on shares of ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 price objective for the company. Finally, Loop Capital raised their target price on shares of ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.64.

ARM Stock Up 2.2 %

ARM opened at $140.06 on Monday. The firm’s fifty day simple moving average is $137.34 and its two-hundred day simple moving average is $141.38. ARM has a 52-week low of $66.66 and a 52-week high of $188.75. The company has a market cap of $146.76 billion, a price-to-earnings ratio of 233.44, a PEG ratio of 7.15 and a beta of 4.53.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating 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 analyst estimates of $810.03 million. During the same period last year, the company posted $0.36 EPS. ARM’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts forecast that ARM will post 0.79 EPS for the current year.

Institutional Investors Weigh In On ARM

Several institutional investors and hedge funds have recently modified their holdings of ARM. Victory Capital Management Inc. acquired a new stake in ARM during the 2nd quarter worth approximately $8,782,000. American Century Companies Inc. purchased a new stake in shares of ARM during the second quarter worth $5,885,000. Envestnet Asset Management Inc. raised its stake in shares of ARM by 20.0% in the second quarter. Envestnet Asset Management Inc. now owns 37,902 shares of the company’s stock valued at $6,202,000 after acquiring an additional 6,311 shares in the last quarter. Rathbones Group PLC boosted its holdings in ARM by 59.8% in the second quarter. Rathbones Group PLC now owns 12,330 shares of the company’s stock valued at $2,017,000 after purchasing an additional 4,614 shares during the period. Finally, STF Management LP acquired a new position in ARM during the 2nd quarter worth $310,000. Hedge funds and other 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.